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Stanford sentenced 110 years in jail

June 14, 2012

A federal court in Houston has sentenced R. Allen Stanford, Former jet-setting Texas tycoon, to 110 years in prison for his involvement in a $7 billion Ponzi scheme, according to reports on Thursday.

Federal prosecutors had asked the court to sentence Stanford to 230 years. Stanford, the former principal of Standford Financial Group, was convicted of fraud in March.

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