Allen Stanford a billionarre was accused for a massive fraud in US, along with the three associates and carrebian regulater .He was convicted for a fraud which he had done through his bank in carrebian island.Stanford who had family business of real estate and finance developed it from samll firm to all over the world and made himself famous as business tycoon .He was ranking high in the forbes list of millionarres.
He was supposed to have cheated people by developing pyramid schemes in the time of recession and making a good worth out of it .He was utilising these funds of client for his personal and other things like stanford 20 cricket and purchasing yatch and other expensive personal property.
He totally refused the accusion and said that he was not at all involved in any such act .After Obama's governence this has been the first it's sort of crime .Obama has promised to nullify such type of crimes in the period of regeression so that economy could be lifted and so deep rooted inquiry will be conduted and everything will be clarified as it is.
Everybody has eyed this occasion and waiting for some fair decision from the federal law of US to stop such type of crimes foreever.
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