Billionaire International Banker Allen Stanford Is Behind Bars
Friday, June 19, 2009SUSIE GHARIB: Another alleged Ponzi schemer is behind bars tonight. Billionaire Allen Stanford has been charged in a massive, $7 billion fraud. The Texas financier is facing a laundry list of criminal and civil charges. Stanford and others in his once booming financial firm are accused of conspiring with a regulator on the Caribbean island of Antigua to bilk investors. Federal prosecutors say more than a billion dollars from that firm's funds are completely unaccounted for and another $5 billion has been, as the Feds put it, lost. Stanford's attorney says the accusations are false and a jury will acquit his client.
