Weekly Roundup: Stanford Sentenced to 110 Years for Ponzi Scheme, OFAC Fines Abu Dhabi Bank, and More

Robert Allen Stanford was sentenced Thursday in the Southern District Court of Texas to 110 years in prison and ordered to forfeit $5.9 billion for orchestrating a $7 billion Ponzi scheme, one of the largest ever. Stanford, who was convicted in March of mail and wire fraud and conspiracy to launder money, sold fake certificate of deposits over a 20-year period at an Antigua-based financial institution he owned and operated. More At his sentence hearing, he told accusers that he was "not a thief." More The U.S. Treasury Department's Office of Foreign Assets Control fined National Bank of Abu Dhabi...