R. Allen Stanford of Texas was convicted of bilking investors out of more than $7 billion in a Ponzi scheme. He took investor money to buy a castle in Florida, a yacht in the Caribbean and to bankroll a $20 million prize for an international cricket tournament. When the government shut him down, he was broke, so taxpayer dollars paid for his defense.
Read Jury convicts Stanford in $7 billion Ponzi scheme, on MSNBC.msn.com.
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