Ponzi schemer Stanford sentenced to 110 years

Former billionaire Allen Stanford, who stole $7bn from his investors in a Ponzi scheme, has been sentenced to 110 years in US courts.

After his conviction of 13 charges for fraud and conspiracy in March, Stanford will spend the rest of his life behind bars as the US District Judge David Hittner branded his actions the most "egregious of criminal frauds" and worse than fellow Ponzi schemer Bernard Madoff. During the six-week long trial Stanford denied committing fraud or running a Ponzi scheme, according to Reuters, but one of his victims said he preyed on retired teachers and war veterans, unlike Madoff who targeted the wealthy. He is currently serving a 150-year prison sentence. Jurors heard how the Stanford Intern...