March 15th in Allen Stanford, Fraud, International by Editor .

Is Allen Stanford Getting Unfairly Beasted Before Trial?

The 20/20 cricket-loving Texan has had a rough time considering he hasn’t actually been convicted of anything yet…

Charles Tyrwhitt UK
 

It’s been just over a year since the Securities and Exchange Commission charged Texas financier R. Allen Stanford with an $8 billion fraud. It’s alleged that he lured investors with promises of high returns on certificates of deposit but poured their money into a “black box” of hard-to-trade assets. He voluntarily handed himself over to the authorities last June.

The Sunday Times took a closer look at how the fallen financier has been treated since. And even compared to Bernie Madoff, he’s had a rough time.

Times: The fallen billionaire started his trials locked up with 10 other inmates in a cell where the power kept failing, leaving the inmates sweltering in total darkness as the outside temperatures hit 100F (37C). Last September, he was hospitalised with concussion following a fight.

The boats, the properties and the money have gone. Lloyd’s of London is trying to stiff him on his insurance. He even lost the right to use his name after Stanford University won a trademark-infringement lawsuit that predated the financier’s arrest.

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Bernie Madoff managed to swing a house arrest rather than jail prior to his trial. Maybe with the passing of George W from office, Texans are just out of favour.

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