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The most notorious corporate scammers in U.S. history

Cheapism Logo By Mia Taylor of Cheapism | Slide 4 of 14: Allen Stanford is an inmate in a high-security prison in Florida, where he will almost certainly spend the rest of his life after being sentenced to 110 years following 13 felony convictions in 2012. In 2009, federal agents raided his offices, which he used to carry out a certificate-of-deposit-based $8 billion Ponzi scheme, the second-largest in history behind only the fraud perpetrated by Madoff. Although Stanford was ordered to forfeit nearly $6 billion in cash, nearly all of it had been spent, and his victims recovered virtually none of their losses.

Allen Stanford

Allen Stanford is an inmate in a high-security prison in Florida, where he will almost certainly spend the rest of his life after being sentenced to 110 years following 13 felony convictions in 2012. In 2009, federal agents raided his offices, which he used to carry out a certificate-of-deposit-based $8 billion Ponzi scheme, the second-largest in history behind only the fraud perpetrated by Madoff. Although Stanford was ordered to forfeit nearly $6 billion in cash, nearly all of it had been spent, and his victims recovered virtually none of their losses.

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