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Wednesday, April 7, 2010 as of 11:14 AM ET

Allen Stanford

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Allen Stanford

Allen Stanford (born March 24, 1950) is a former prominent financier and sponsor of professional sports who is in prison awaiting sentencing, having been convicted of charges that his investment company was a massive Ponzi scheme and fraud.

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Get updates on Allen Stanford
Stanford Victim for Hire

Richard Cochran of Baton Rouge, La.

, is 79 years old and looking for work in the construction industry."I'm a tough, old construction manager," he said after six decades of building everything from gas stations to the Kennedy Space Center.Cochran had the misfortune of investing in Certificates of Deposit at the Stanford Financial Group. Turns out, his hard-earned retirement funds went into a $7 billion international Ponzi scheme, and its mastermind, Allen Stanford , is slated for sentencing June 14.Angie Shaw, the volunteer director of the Stanford Victims Coalition, said she gets about 500 emails a day from folks like Cochran."Their stories are horrific, and they're getting even worse," she said. "A lot of these people have died impoverished."Cochran grew up in Indiana, getting up at 5 a.m. to dig ditches. "They use backhoes today," he said. "I used a pick and shovel."He served in the Korean War, rising to the level of staff sergeant, and worked in the Army Corps of Engineers piping g...

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  1. Stanford Convicted On 13 Counts Of Fraud: AP

    Billionaire financier R. Allen Stanford has been convicted on 13 of the 14 charges he faced in connection with his alleged role in a Ponzi scheme that took more than...

  2. Allen Stanford Found Guilty on 13 of 14 Charges

    Texas financier R. Allen Stanford was found guilty on 13 of 14 counts of fraud and money laundering in a Houston district court, four days after jurors began deliber...

  3. Allen Stanford Jury Says Unable to Reach Verdict

    The jury weighing evidence against Allen Stanford said on Monday it was unable to reach a verdict in the trial of the former Texas financier.Stanford, on trial in fe...

  4. Some Politicians Fail to Return Alleged Ponzi Schemer's Campaign Donations

    National fundraising committees for the Democratic and Republican parties, President Barack Obama , and other major politicians have declined to return campaign dona...

  5. Jury Selection Underway in Stanford Trial

    FBN's Adam Shapiro in Houston at the Allen Stanford trial as jurors are being selected.

  6. Regulators Go Head to Head Over Stanford Claims

    Securities regulators are due in court on Tuesday to argue that a brokerage industry-backed protection fund should let thousands of victims of Allen Stanford's alleg...

  7. Apache to Buy Cordillera Energy

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  8. Allen Stanford Pleads Not Guilty to 14 Counts

    Texas financier Allen Stanford pleaded not guilty on Wednesday to a streamlined indictment, with a judge rejecting last-minute requests for more time from defense la...

  9. Ex-SEC Attorney Saw Riches In Ponzi Defendant

    The tale of Dallas attorney Spencer Barasch has two versions.The official government version: As head of the Fort Worth regional office of the Securities and Exchang...

  10. SEC: Inspector General David Kotz Leaving Agency

    David Kotz, the tough internal watchdog at the U.S. Securities and Exchange Commission, is leaving the agency at the end of January, the SEC said on Tuesday.Kotz, 45...

  11. Obama Announces Acting OMB Director

    FBN’s Adam Shapiro on Obama announcing Jeffrey Zients will serve as the Acting OMB Director.

  12. Stanford Loses Bid to Delay Trial

    Allen Stanford , accused of running a $7.2 billion Ponzi scheme, on Wednesday lost his bid for a three-month delay in his criminal fraud trial, clearing the way for ...

  1. Al's Emporium: Too Big To Bank There

    We have finally reached the point in our financial history where even bankers hate bankers.Last week, the Federal Reserve Bank of Dallas issued its 2011 annual repor...

  2. Financier Allen Stanford Loses Bid for New Trial

    The financier Allen Stanford on Thursday lost his bid for a new trial, 16 days after being convicted for running an estimated $7 billion Ponzi scheme.U.S. District J...

  3. Allen Stanford Seeks New Trial, Blames Twitter

    Allen Stanford , the financier convicted of running an estimated $7 billion Ponzi scheme, has asked for a new trial, citing the media's use of Twitter in the courtro...

  4. Al Lewis: Stanford Has Been Cheated By Madoff

    Allen Stanford , who was finally convicted for his $7 billion fraud Tuesday, was a far more colorful Ponzi scheme perpetrator than Bernie Madoff, yet somehow Madoff ...

  5. U.S. Can Go After Stanford's $330M in Foreign Accounts

    Convicted swindler Allen Stanford should forfeit some $330 million stashed in foreign bank accounts, a jury found on Thursday.The verdict clears the way for the U.S....

  6. Stanford Convicted on 13 of 14 Charges

    FBN's Adam Shapiro on Allen Stanford's guilty verdicts in the Ponzi-scheme trial against him.

  7. Allen Stanford Found Guilty

    FBN's Adam Shapiro with an afternoon market update, plus news that Allen Stanford has been found guilty on 13 counts in his Ponzi scheme trial.

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