Known in the Caribbean as "Sir Allen," who is this Ponzi giant who bilked investors out of $7 billion?
Answer Allen Stanford
Texas mogul Allen Stanford – or "Sir Allen" as he was called in Antigua, due to his philanthropy – ran away with $7 billion from tens of thousands of investors, after promising impossible returns and inventing fraudulent financial statements to corroborate investor earnings. Stanford was sentenced to 110 years behind bars and a lifestyle quite different to the luxury Caribbean mansion and yachts he'd previously indulged in.
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