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Stanford sentenced to 110 years for $7 billion fraud

Texas tycoon R. Allen Stanford was sentenced to 110 years for cheating investors out of $7 billion.

R. Allen Stanford arriving for a bond hearing at the Bob Casey Federal Courthouse June 25, 2009 in Houston, Texas. Stanford, chairman and CEO of Stanford Financial, was sentenced to 110 years for his $7 billion Ponzi scheme on June 14, 2012.

Dave Einsel

AFP/Getty Images

Allen stanford sentenced 110 years