Reuters writes that in a demand more likely to remain
symbolic than be fulfilled, the U.S. government wants Allen Stanford to forfeit
$5.9 billion from his massive Ponzi scheme, even though the convicted financier
has been declared indigent.
The demand requires court approval, and was made two days
before Stanford, who was once considered a billionaire, is to be sentenced for
operating a multi-billion dollar fraud. Stanford, 62, could spend the rest of
his life behind bars.
According to a Tuesday filing with the U.S. District Court
in Houston, the government said the $5.9 billion represents a sum that
Stanford's Antigua-based bank had received from investors in certificates of
deposit when it was put into receivership in February 2009. Prosecutors said Stanford International Bank Ltd had $7.2
billion of CD account balances at that time, of which $1.3 billion was
fictitious interest….
No comments:
Post a Comment