Allen Stanford: age, child, wife, prison, release date, finances, movie, worth

Allen Stanford: age, child, wife, prison, release date, finances, movie, worth

Who is Robert Allen Stanford? Commonly referred to by his mid-name, Allen is a convicted financial fraudster now serving 110 years in federal prison. He was a renowned entrepreneur but was found guilty because his firm was a fraud and a vast Ponzi scheme.

Allen Stanford
Sir Allen during a press conference at Lord's, London. Photo by Daniel Hambury - PA Images/PA Images via Getty Images
Source: Getty Images

The dual citizenship holder, Allen Stanford, was once a force to reckon with, but his days of glory came to an end. So, what happened to Allen Stanford's finance? Here is everything you need to know about the master-minder of one of the biggest Ponzi schemes in the world.

Allen Stanford's profile summary

  • Full name: Robert Allen Stanford
  • Date of birth: March 24, 1950
  • Place of birth: Mexia, Texas
  • Zodiac sign: Aries
  • Allen Stanford's age: 71 years old in 2021
  • Allen Stanford's citizenship: American and Antiguan (citizen of Antigua and Barbuda)
  • Ethnicity: fifth-generation Texan
  • Mother: Sammie (née Conn)
  • Father: James Stanford
  • Siblings: 1 brother
  • Schools attended: Eastern Hills High School, Baylor University
  • Allen Stanford's height: 6ft 4in (193cm)
  • Weight: About 330 pounds in 2012
  • Marital status: divorced
  • Allen Stanford's wife: Susan Stanford (ex-wife)
  • Children: 6
  • Occupation: Financier
  • Famous for: Being a convicted financial fraudster
  • Criminal charge: Wire fraud, mail fraud, money laundering, conspiracy, obstruction of justice
  • Sentence: 110 years in federal prison (from 2012)
  • Allen Stanford's movie: "American Greed" Allen Stanford: The Dark Knight

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Allen Stanford's biography

Allen Stanford
Sir Robert Allen talks to the press during the press conference for the Stanford 20/20 tournament at Lords Cricket Ground on June 11, 2008 in London, England. Photo: Tom Shaw/Getty Images
Source: Getty Images

Robert was raised in Mexia, Texas. His dad (James), former mayor of Mexia, ran a chain of wellness clubs, and his mother (Sammie) was a nurse. Allen Stanford's parents divorced in 1959. Robert and his brother moved with their mother to Fort Worth. Sammie had three more husbands after James.

Allen Stanford's education

The ex-financier was a student at Eastern Hills High School in Fort Worth, Texas. He joined Baylor University in Waco, Texas, to pursue a Bachelor of Arts degree in Finance. He graduated in 1974.

Career

Robert started as a bookkeeper and insurance salesperson. He opened a gym in Waco, Texas, in the 1970s, but it failed. He eventually succeeded in business in the early 1980s when he started a real estate firm in Houston (partnering with his father). His father retired in 1993; therefore, Allen took complete control of the firm.

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The financier moved to the Caribbean in the 1980s and established Guardian International Bank on the island of Montserrat in 1985. He owned Maiden Island and The Sun newspaper in Antigua and Barbuda. In 2006, he established the Stanford 20/20 cricket tournament in the West Indies. In 2006, he was appointed Knight Commander of the Order of the Nation (KCN) of Antigua and Barbuda. All his businesses and titles got lost when his integrity was questioned.

Allen Stanford's story: The fall

Allen Stanford
Convicted financier R. Allen arrives at the Bob Casey Federal Courthouse for sentencing in Houston, Texas. Photo: Aaron M. Sprecher/Bloomberg via Getty Images
Source: Getty Images

Robert's fraud investigations began in 2009, after the questionable consistent higher-than-market returns that Stanford International Bank claimed to make for its depositors. It was established that Robert had falsified investment results. SEC charged him with "massive ongoing fraud" centreed on an eight-billion-dollar investment scheme, misappropriating billions of dollars of investors' money and falsifying the Stanford International Bank's records to hide their fraud.

His companies were also rumoured to engage in bribery, money laundering, and political manipulation. As a result, Robert’s assets and those of his company were frozen and placed into receivership.

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After attempting to flee the country, the FBI located Robert at his girlfriend's house near Fredericksburg, Virginia on 19th February 2009, before his arrest on 18th June, 2009. Various governments took the operations of his numerous businesses.

Allen Stanford's news on 26th September, 2009 was that he had been beaten by another inmate at Joe Corley Detention Facility in Conroe and was hospitalized. In other news, Robert issued a counter-claim of $7.2 billion of damages against the FBI and the SEC in February 2011. As a result, prosecutors dropped seven charges against him, leaving 14 charges ongoing.

Where is Allen Stanford now?

Allen Stanford: age, child, wife, prison, release date, finances, movie, worth
Indicted financier R. Allen, left, accused of leading a $7 billion investment fraud scheme. Photo: F. Carter Smith/Bloomberg via Getty Images
Source: Getty Images

Robert was convicted on all charges except for one count of wire fraud on 6th March, 2012 (13 of the 14 charges). On 14th June, 2012, he received a 110-year prison sentence. He was also required to make a $6.7 billion disgorgement and a forfeiture of $5.9 billion.

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Allen Stanford's prison is the United States Penitentiary, Coleman II in Coleman, Sumterville, Florida. Allen Stanford's release date is April 21, 2105 and he is likely to die in prison.

How much is Allen Stanford worth?

Allen Stanford's net worth at its peak was in 2008 when he was 205th on the Forbes rich list of Americans. His wealth at that time was approximately $2.2bn (£1.5bn).

Allen Stanford's family

Robert was married to Susan from 1975 to 2013. Susan and Allen Stanford's daughter is called Randi. By 2009, Susan, a dental hygienist, and Allen had separated for over a decade, and according to Reuters, Susan filed for a divorce in November 2007.

Other than his girlified, Andrea Stoelker, Robert had mistresses. Louise Sage bore Robert's 2 children named Ross and R. Allena. Another lady also called Susan Stanford-Mahan had Robert's son, Reid. Rebecca (Beki) Reeves-Stanford.

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Allen Stanford was fraudulent for over a decade. He was aware that what he was doing was illegal but did it anyway. His crimes finally caught up with him, and he will spend the rest of his life there.

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Source: Briefly News

Authors:
Jedidah Tabalia avatar

Jedidah Tabalia Jedi is a journalist with over 5 years working experience in the media industry. She has a BSc. in Human Resource Management from Moi University (graduated in 2014) and a working in progress MBA in Strategic Management. Having joined Genesis in 2017, Jedi is a passionate Facts and Life Hacks, Fitness, and Health content creator who sees beauty in everything. She loves traveling and checking out new restaurants. Her email address is jedidahtabalia@gmail.com

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