$1bn recovered for victims of Allen Stanford Ponzi scheme – 12 years after scam exposed

Efforts to compensate victims of Ponzi fraudster Allen Stanford have recouped more than $1bn, lawyers for a court-appointed receiver have revealed.

The milestone was hailed as a “significant achievement” – 12 years after the Texan former tycoon’s scam was exposed.

Stanford, 71, is serving a 110-year prison sentence after his conviction in 2012 for running a $7.2bn Ponzi
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