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Re: Allen Sanford update - Ponzi scheme fail

Posted: Thu Jun 14, 2012 9:11 pm
by Lambkin
110 years.

http://www.nytimes.com/2012/06/15/busin ... -case.html

“I’m not up here to ask for sympathy or forgiveness. I’m up here to tell you from my heart I didn’t run a Ponzi scheme.”

Re: Allen Sanford update - Ponzi scheme fail

Posted: Thu Jun 14, 2012 10:50 pm
by ArthurWankspittle
Heard this earlier. With the allowance for good behaviour he should be out in about 91 years.

Re: Allen Sanford update - Ponzi scheme fail

Posted: Mon Jan 11, 2016 8:38 pm
by NYGman
http://www.bbc.com/news/world-35283297

Still professing his innocence. and spewing his: It wasn't me, I didn't run a Ponzi Scheme, the SEC/Gov't were out to get me, I am the victim here


I am sure his victims feel the same way, oh wait, many were old, and are now dead

To date only around $292m has been recovered, with $73m returned to Stanford's estimated 28,000 investors. Many are elderly and more than 170 have died since the scandal broke in 2009. Stanford is highly critical of the way the receivership has been handled, describing it as "a court-sanctioned theft of unimaginable proportions".

Re: Allen Sanford update - Ponzi scheme fail

Posted: Tue Jan 12, 2016 2:32 am
by notorial dissent
Obviously he means theft from him, since he didn't do anything wrong, that and some swamp land in Zaire.

Re: Allen Sanford update - Ponzi scheme fail

Posted: Tue Jan 12, 2016 5:48 am
by Gregg
I was under the impression that Sanford was the only case I had ever heard of where the receiver had recovered more than the initial investments of the victims and they were actually getting a small profit compared to their initital investments.

Possibly, we're learning the difference between a big judgement and actually getting the cash a jury awarded you.