November 17, 2021
Scam/Fraud

At His Peak, Allen Stanford Was Worth $2.2 Billion. Today He’s Serving A 110-year Prison Sentence For Operating A Massive Ponzi Scheme

In the early 2000s, Allen Stanford was living the good life. He had lots of money, a lavish lifestyle and practically an entire island country as his own private kingdom. Literally he was knighted by the country of Antigua. Then he lost it all.

Today the one-time high-flying financier is serving a 110-year prison sentence after being convicted of running a giant Ponzi scheme and fraud.

This is the story of how Allen Stanford went from enjoying a $2 billion fortune to serving a life sentence.

Tom Shaw/Getty Images

Early Life

Robert Allen Stanford was born on March 24, 1950 in the tiny town of Mexia, Texas. His father was actually the mayor at one point, but the family was not well-off. Money became especially scarce after his parents divorced he and his brother moved to Fort Worth with their mother.

Allen earned a BA finance from Baylor University. After working for a time as a bookkeeper and insurance salesman, he decided to try his luck…

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