Stanford Sentenced to 110-Year Term in $7 Billion Ponzi Case By Clifford Krauss June 14, 2012 HOUSTON — Jaime Escalona was fleeced so thoroughly by the financier R. Allen Stanford that he could no longer pay for his grandson’s autism treatments, he said in a steady voice in court on Thursday, before turning to the defendant and declaring, “You are a dirty, rotten scoundrel.” Mr. Stanford took the insult in stride, and stared right back. Then Angela Shaw Kogutt, who said three generations of her family had lost over $4 million because of Mr. Stanford’s “financial terrorism,” asked all the scores of victims in the federal court gallery to stand before Mr. Stanford to show him their faces of misery. Judge David Hittner of the Federal District Court told Mr. Stanford he was under no obligation to look, but he swiveled his chair toward the victims anyway without a flinch or sign of caring. For Mr. Stanford, his day in court on Thursday — the day he was sentenced to 110 years in prison...
COViSAL is formed by families who lost their life savings when Stanford Financial Group was seized by the U.S. authorities in February of 2009. We demand immediate restitution from the U.S. Government. Our rights must prevail over judicial manipulations, and good conscience must be the instrument to impart justice and stop a never-ending fraud. The nature of the work of COViSAL, since 2009, is research, information, and dissemination. It should NOT be interpreted as legal advice.