Allen Standford to spend 110 years in jail
http://www.reuters.com/article/2012/06/14/us-stan…
Oh my.. 110 years sentence. What good is all that money now?
I always find it funny when someone's sentence to more than human beings' life span.
Quote: Prosecutors had asked for a 230-year sentence, arguing in court papers that Stanford's crime was "one of the most egregious frauds in history."
This is a gem. What's the damn difference between 230 and 110 yesrs in jail? LOL
Worse than Madoff, said one of the victims.
Brutal. Just shows to go ya, if you're gonna rip people off you better have an escape plan.
[quote=What's the damn difference between 230 and 110 yesrs in jail?[/quote]
I wondered the exact same thing - there's got to be some legalese behind it, but I can't begin to piece together how it may be relevant. I think 50 years is a lot more realistic as a maximum sentence, and if more time is deemed necessary just put them in for life.
But hey, I'm just an uninformed civilian.
I think there is a difference. If you appeal a 230 year sentence it will likely still be life, but for a 110 year sentence he may be able to reduce it to less than life.
I also think it's worse than Madoff's because the people that he stole money from were already poor.
I might be splitting hairs here, but I have to disagree. Madoff took the money he made and spent it on himself. Stanford took the money he made and turned Antigua into a modern paradise. The cricket stadium he built down there alone is the finest in the Caribbean. He basically was the Antiguan economy for the better part of a decade.
Last time I was in Antigua I stayed at The Verandah, and there's no way a place like that would have existed without Stanford plowing dough into the island infrastructure:
http://www.verandahresortandspa.com/
Dignissimos ratione non quam id. Odit velit quo error aliquam minima. Distinctio repellat doloremque repellat vitae qui quis. Rerum est voluptatem asperiores dignissimos.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...