Who is Robert Allen Stanford?
So, what happened to Allen Stanford’s finance?
Here is everything you better know about the master-minder of one of the biggestPonzi schemesin the world.
Sir Allen during a press conference at Lord’s, London. Photo by Daniel Hambury - PA Images/PA Images via Getty ImagesSource: Getty Images
Allen Stanford’s parents divorced in 1959.
Robert and his brother moved with their mother to Fort Worth.
Sammie had three more husbands after James.
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He joined Baylor University in Waco, Texas, to pursue a Bachelor of Arts degree in Finance.
He graduated in 1974.
Career
Robert started as a bookkeeper and insurance salesperson.
Sir Robert Allen talks to the press during the press conference for the Stanford 20/20 tournament at Lords Cricket Ground on June 11, 2008 in London, England. Photo: Tom Shaw/Getty ImagesSource: Getty Images
He opened a gym in Waco, Texas, in the 1970s, but it failed.
His father retired in 1993; therefore, Allen took complete control of the firm.
He owned Maiden Island and The Sun newspaper in Antigua and Barbuda.
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In 2006, he established the Stanford 20/20crickettournament in the West Indies.
All his businesses and titles got lost when his integrity was questioned.
It was established that Robert had falsified investment results.
Convicted financier R. Allen arrives at the Bob Casey Federal Courthouse for sentencing in Houston, Texas. Photo: Aaron M. Sprecher/Bloomberg via Getty ImagesSource: Getty Images
His companies were also rumoured to engage in bribery, money laundering, and political manipulation.
As a result, Roberts assets and those of his company were frozen and placed into receivership.
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Various governments took the operations of his numerous businesses.
As a result, prosecutors dropped seven charges against him, leaving 14 charges ongoing.
On 14th June, 2012, he received a110-yearprison sentence.
Indicted financier R. Allen, left, accused of leading a $7 billion investment fraud scheme. Photo: F. Carter Smith/Bloomberg via Getty ImagesSource: Getty Images
He was also required to make a $6.7 billion disgorgement and a forfeiture of $5.9 billion.
Allen Stanford’s release date is April 21, 2105 and he is likely to die in prison.
How much is Allen Stanford worth?
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His wealth at that time was approximately$2.2bn(1.5bn).
Allen Stanford’s family
Robert was married to Susan from 1975 to 2013.
Susan and Allen Stanford’s daughter is called Randi.
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Other than his girlified, Andrea Stoelker, Robert had mistresses.
Louise Sage bore Robert’s 2 children named Ross and R. Allena.
Another lady also called SusanStanford-Mahanhad Robert’s son, Reid.
Rebecca (Beki) Reeves-Stanford.
He was aware that what he was doing was illegal but did it anyway.
His crimes finally caught up with him, and he will spend the rest of his life there.
Source: Briefly News
Jedidah TabaliaJedi is a journalist with over 5 years working experience in the media industry.
She has a BSc.
She loves traveling and checking out new restaurants.
Her email address is jedidahtabalia@gmail.com
