NPR : News

Filed Under:

110-Year Prison Sentence For Ponzi-Scheming Tycoon R. Allen Stanford

R. Allen Stanford, the billionaire financier and cricket fanatic who was convicted earlier this year of "bilking investors out of more than $7 billion over 20 years in one of the largest Ponzi schemes in U.S. history," has been sentenced to 110 years in prison, The Associated Press reports.

As NPR's Wade Goodwyn reported in 2009, Stanford is:

"A fifth generation Texan who made his fortune in real estate in Houston in the '80s. He holds dual citizenship now. He's an Antiguan. ... And he is big sports fan — golf, polo, sailing, tennis. ... But his greatest love is cricket. ... He paid out $20 million to the winners of a single cricket tournament at Antigua. And when he announced [a] competition in London, he landed on Lords Cricket Ground in a gold plated helicopter."

As for his crimes, the AP writes that, "prosecutors said he used the money from investors who bought certificates of deposit, or CDs, from his bank on the Caribbean island nation of Antigua to fund a string of failed businesses, bribe regulators and pay for a lavish lifestyle that included yachts, a fleet of private jets and sponsorship of cricket tournaments."

Stanford is 62.

This past decade's other infamous Ponzi schemer, Bernie Madoff, cost his investors an estimated $20 billion.

Copyright 2012 National Public Radio. To see more, visit


Kentucky Boy Solves Rubik's Cube In Record Time

A 14-year-old boy from Lexington, Ky., has solved a Rubik's Cube in less than five seconds. As Guinness World Records declares this a record-breaker, we hear how NPR covered a Rubik's Cube competition in 1981.
WAMU 88.5

Recipes Get A Makeover With GIFs, Science, And Emojis

On Food Wednesday, we explore the new ways recipes are being presented, with everything from GIFs to scientific method.

WAMU 88.5

International Military Action In Syria

French President Hollande meets with President Obama in Washington to seek additional U.S. support in the fight against ISIS in Syria, and NATO holds an emergency meeting over the downed Russian fighter jet: An update on international military strategy in Syria.


Used Rocket Is A New Breakthrough For Blue Origin's Space Plan

Blue Origin, the space company founded by Amazon billionaire Jeff Bezos, has sent a craft past the edge of space and then landed its rocket safely – and vertically — in Texas.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.