US financier jailed for 110 years for defrauding investors of billions

15/06/12 07:46 CET

world news

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Former Texan tycoon Allen Stanford is starting a 110 year jail term for running a scheme in which he stole billions from investors to fund his lavish lifestyle.

The 62-year-old denied any wrongdoing but some victims said his crimes were worse than those of Bernard Madoff.

More about: Markets, Trial, USA

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