U.S. prosecutors have urged a judge to send convicted financier Allen Stanford to prison for 230 years, calling him a "ruthless predator" whose $7 billion Ponzi scheme was among the most egregious frauds ever undertaken. Such a sentence, the maximum recommended under federal sentencing guidelines, would be 80 years longer than Bernard Madoff got in 2009 for his Ponzi scheme, and according to prosecutors reflects Stanford's place as "among the greediest, most selfish, and utterly remorseless criminals." Stanford's lawyers are seeking a prison term of 31 to 44 months for their client, which could result in his immediate release because he has already been in custody for three years, according to the government. [Reuters]
Allen Stanford Puts On Unusually Brave Face While Hearing Verdict Of Guilt
April 7, 2009: The then Sir Allen Stanford chokes back tears over being deprived of being named Forbes’ 405th richest person in the world as a result of the Ponzi charges (which he described as "baloney" and informed a reporter using the dirty word, "If you say Ponzi to my face again, I will punch you in the mouth"). March 6, 2012: "A federal jury convicted international financier R. Allen Stanford on 13 of 14 charges of money laundering and fraud in a Ponzi scheme that lost billions of dollars for investors...As the verdict was read Mr. Stanford, wearing a dark suit, turned to where his family members were sitting and appeared to mouth the words, 'It's OK.'"
Madoff Aides Ask For Conviction To Be Overturned Because Prosecutor Made A Movie Reference
Among other things, but really, it's The Godfather reference that sticks in their craw.