WSJ - .NYT - StarTrib - No longer "Sir ", but rather "Stir" R. Allen Stanford was handed a sentence of 110 years in Federal Prison on June 15, 2012. (no parole but possible appeal). Mr. Sanford is detailed on pages 181-202 in the book "The Greedsters". The 6 foot 4 inch Texan maintained his innocence despite testimony by his former Baylor University roommate, James M. Davis, who was also his chief financial officer but main informant. Mr. Stanford said after being convicted and sentenced, "I am not a thief". One victim who lost $1.5 million to Stanford said in court, "You deserve what's coming to you. You are a dirty rotten scoundrel". Federal Judge Hittner, besides the prison sentence, ordered Mr. Stanford to forfeit $5.9 BILLION in his bank's deposits associated with his misdeeds. A severe prison beating had caused Stanford to suffer a memory loss, but the Judge stated Stanford had "exaggerated his impairment" and he was competent to stand trial. Three of the perpetrators of the largest ponzi schemes have been sentenced: Madoff to 150 years, Petters to 50 years and now Stanford to 110 years. All three will probably die in jail - were the crimes worth it? In 2000 Mr. Sholam received an 845-year sentence for fraud and in 2008, Mr. Norman Schmidt was given a 330-year sentence for an investment fraud. Why don't others learn from these experiences?
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