US Seeks 230-Year Prison Term For Stanford's $7B Scam

Law360, New York (June 7, 2012, 8:07 PM EDT) -- Prosecutors in Robert Allen Stanford’s trial said Wednesday that the convicted $7 billion Ponzi schemer should be handed a 230-year prison sentence, saying the lengthy and wide-ranging scam he orchestrated calls for the maximum punishment allowed by law.

The U.S. Department of Justice’s Fraud Division attacked not only Stanford’s decades of misconduct as chairman of the Stanford Financial Group, but his character as well, in its bid for a life sentence. Stanford, who prosecutors called a “ruthless predator,” is scheduled for sentencing next week in Texas...
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