DEVELOPING: R Allen Stanford Found Guilty in 13 of 14 Charges

((HT: MyFoxHouston))

Financier R. Allen Stanford has been convicted on 13 of 14 charges in the alleged Ponzi scheme where he bilked investors out of as much as US$7-billion over a 20 year period.

He was once regarded as one of the most wealthy people in the country, but had to have court-appointed attorneys argue his case since his assets are seized.

Here's the breaker from Fox...

R. Allen Stanford Convicted in $7 Billion Ponzi Scheme: MyFoxHOUSTON.com

And the early results from KTRK-ABC13...


What's the connection with sports...???
He once offered US$20-million for one game of cricket...
Maybe where some of the money went...???
((HT: SkySports))


Now, comes the civil suit...

R Allen Stanford Competent To Stand Trial

((HT: CBS News))

Billionaire bilker R. Allen Stanford is competent to stand trial, according to a Houston judge.

There was an investigation ongoing as to whether or not Stanford was considered to be suicidal. That was found not to be the case, but Stanford will continue to be monitored.

Stanford is said to have taken the money in a Ponzi scheme and turned into a lifestyle that was wrapped up in not only cricket and yachting, but philanthropy.

Here's your recap on Stanford's shenanigans...
All $8-billion of it...


And here's the details from our friends at MyFoxHouston...

Stanford Ruled Competent for Trial: MyFoxHOUSTON.com

The trial starts in late January...