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Author Topic: WSJ: Allen Stanford sentenced to 110 years in prison for Ponzi Scheme  (Read 2222 times)
elux
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June 15, 2012, 12:35:02 PM
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Stanford Hit With 110 Years Former Billionaire and Founder of Antigua-Based Bank Blames U.S. Government  

By DANIEL GILBERT And JEAN EAGLESHAM — HOUSTON — JUNE 14 2012

R. Allen Stanford, the international financier known for his extravagant lifestyle, was sentenced to 110 years in federal prison Thursday for masterminding a $7 billion Ponzi scheme that was among the largest frauds in U.S. history.

The punishment amounts to a life sentence for Mr. Stanford, 62 years old, who for years enjoyed the rarefied life of a billionaire aboard jets, yachts and homes around the globe.

As he prepared to be sentenced, a shackled Mr. Stanford shuffled to the witness stand and told U.S. District Court Judge David Hittner, "I'm not a thief."
...

http://online.wsj.com/article/SB10001424052702303734204577466634068417466.html

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June 24, 2012, 05:28:58 AM
 #2

When are they arresting Ben Bernanke for the biggest ponzi of all time ?

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June 24, 2012, 05:39:14 AM
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"The median sentence for murder was 178 months, or less than 15 years, according to U.S. Sentencing Commission data for the last quarter of 2011.

Some believe such long sentences send an important message. Bart Chilton, a commissioner at the Commodity Futures Trading Commission, welcomed the 110-year sentence for Mr. Stanford.

"I'm pleased to see the justice system work," he said, "and put the baddest of the bad apples—guys rotten to the core—away for a long time."'

Don't mix your coins someone said isn't legal
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August 28, 2012, 05:51:56 PM
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What goes around, comes around.

Pirate, you listening ?
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August 28, 2012, 06:37:55 PM
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When are they arresting Ben Bernanke for the biggest ponzi of all time ?

Stanford was just operating a pass-through  Cheesy

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March 29, 2014, 03:22:48 AM
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The government gets away with every lie to tell us through the media,
they get away with their ponzi scheme on us,
they get away with murder,
they get away with stealing,
they get away with bigger crimes of hate,
they fight stupid wars and put us all at risk while they enjoy the security around them,
they get away with killings and then blame it on others,
they get away with intimidation,
they get away with kidnapping,
they get away with drug smuggling,
they get away with smoking weed,
they get away with black op's secret missions,
they get away with killing scientists just to protect what they built,
they get away with many mass murders,
well, we are still blind wait at what they get away with, and they set lots of people up, those who don't comply with their demands and they get away with that too..

Just be careful you might be the next government target, you will see lies and lies..
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March 29, 2014, 04:04:19 AM
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When are they arresting Ben Bernanke for the biggest ponzi of all time ?

I don't understand this level of consumer protection in society.  I should be allowed to ponzi anyone I please, though I'd refrain from it of course.

Hell, a good ponzi benefits everyone involved except one individual.  What do you want, society... 100% victory?

Do you even mine?
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bythesea
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March 29, 2014, 03:52:31 PM
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Lets put it like this. He lived like a king for years and now, until he dies, and that might not take long he will live in a jail. Many would like to be in his shoes...
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April 01, 2014, 04:11:19 AM
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i dont feel this guy should have gotten the death penelty for running a ponzi. did he deserve 10-15 years yes but not need to spend life in prison for it. the guy didnt kil anyone and he made a mistake just cause he was better at it than others dont mean he gets harder punismetn

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April 01, 2014, 06:28:30 AM
 #10

masterminding a $7 billion Ponzi scheme
 Shocked

i'm sure this guy is briliant!

No, I will not disclose my real name on the Internet. The very simple reason I’m anonymous is so that I can talk freely about a free web. One mistake people often make is having the faulty assumption that knowing my real name or my association with a respected person, group or organization might get them to trust me more. In fact, I have no authority here. Elastic Project is a loosely associated group of developers which constantly changes over time. If you prefer projects with a more centralized structure, then please move on. Specifically, I kindly ask you to refrain from any messages that try to convince me of the contrary. My time is too valuable to be wasted with the same discussion again and again.
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April 01, 2014, 07:18:33 AM
 #11

Wasn't Facebook IPO a giant ponzi?

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April 02, 2014, 12:58:05 AM
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... according to prosecutors, who accused him of running a "massive, international criminal organization masquerading as a bank."

Replace "masquerading" with "known".
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April 02, 2014, 01:04:30 AM
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Wasn't Facebook IPO a giant ponzi?

No how is it a Ponzi?
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April 02, 2014, 04:25:18 AM
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The underwriter overpriced the IPO and then bought back stock for a period of time to keep the price inflated. It is not a real Ponzi but as the price is much much greater the cash flow you might be able to argue it acted like a partial Ponzi. I am not really sure it qualifies  though.
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April 02, 2014, 08:01:05 PM
 #15

The underwriter overpriced the IPO and then bought back stock for a period of time to keep the price inflated. It is not a real Ponzi but as the price is much much greater the cash flow you might be able to argue it acted like a partial Ponzi. I am not really sure it qualifies  though.
Facebook may currently operate like a ponzi, but it'd be a challenge to find someone who managed to lose money taking  long positions up until now. Can basically excuse the IPO manipulation... if everybody wins, there's no crime, right?

ETA: o wait...

Don't mix your coins someone said isn't legal
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April 02, 2014, 09:35:16 PM
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The underwriter overpriced the IPO and then bought back stock for a period of time to keep the price inflated. It is not a real Ponzi but as the price is much much greater the cash flow you might be able to argue it acted like a partial Ponzi. I am not really sure it qualifies  though.
Facebook may currently operate like a ponzi, but it'd be a challenge to find someone who managed to lose money taking  long positions up until now. Can basically excuse the IPO manipulation... if everybody wins, there's no crime, right?

ETA: o wait...

That's not a Ponzi.  A Ponzi is when you use new investment money to pay early investors REGARDLESS of what happens to the investment.  

Bitcoin is not a Ponzi either.  It's a pump & dump.  Its sold as a pyramid.  i.e. deflationary asset can never go down.  The earlier you get in the more money you make
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April 03, 2014, 12:36:45 AM
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i dont feel this guy should have gotten the death penelty for running a ponzi. did he deserve 10-15 years yes but not need to spend life in prison for it. the guy didnt kil anyone and he made a mistake just cause he was better at it than others dont mean he gets harder punismetn

Probably largely irrelevant, since he's already 62.  15 years would have been 77.

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April 05, 2014, 04:55:51 PM
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When will people realize that the entire financial system and world economy is now just a Ponzi scheme devised by the Rich to get even Richer. That's how Ponzi schemes work.

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April 07, 2014, 02:21:08 PM
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I wonder how many of those kind of businessmen get away with it. I don't expect he would get 15 years though.

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