Prosecutors: 'Ruthless Predator' Stanford Deserves 230 Years in Prison

"Robert Allen Stanford is a ruthless predator responsible for one of the most egregious frauds in history.  The sheer magnitude of the money stolen, the duration of the crime, and the extent to which Stanford lived a life steeped in deceit are almost unrivaled."


In a court filing today, federal prosecutors urged United States District Court Judge David Hittner to sentence R. Allen Stanford to 230 years in federal prison, amping up the rhetoric as a June 14 sentencing hearing approaches.  Stanford, was convicted in March 2012 of thirteen charges, including conspiracy to commit mail fraud, money laundering, and obstruction of justice, after the Government accused him of masterminding a $7 billion global Ponzi scheme that involved nearly 30,000 victims in 113 countries.  

In support of the 230-year sentence, which is the maximum allowed under federal sentencing guidelines, prosecutors pointed to the utter path of devastation left by Stanford and urged that such a sentence would place Stanford "among the greediest, most selfish, and utterly remorseless criminals."  The sentence, if imposed, would exceed that of disgraced Bernard Madoff, who was sentenced to 150 years in prison in June 2009.  Prosecutors also cited Stanford's lack of remorse, commenting that "after everything that he has done to so many innocent victims, Stanford does not show a hint of remorse for his misconduct, only the same arrogant, narcissistic behavior that led to it."

In stark comparison, Stanford's legal team is seeking a prison term of 31-44 months.  Prosecutors were quick to point out that adopting this recommendation could result in Stanford's immediate release should he receive credit for time served since his arrest in June 2009.  

Sentencing is scheduled for June 14.  Stanford's attorneys have already indicated they intend to appeal the conviction.