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Financier and cricket mogul Allen Stanford was sentenced to 110 years in jail for a $7 billion Ponzi scheme, closing the book on the flamboyant ex-tycoon’s stunning fall from grace.
“This is one of the most egregious frauds ever presented to a trial jury in federal court,” Judge David Hittner said in handing down the lengthy sentence Thursday.
Investors should pause if an investment is paying an unusual high return given the level of risk and the benchmark in the same sector. Most of the victims in Ponzi schemes are always blinded by greed and their decision to focus only on returns without questioning the inherent risk of the investments.
If you have any questions regarding financial planning please contact us at Palma Financial Services. We are located in the east bay city of Dublin, CA in Alameda County.