Stanford was charged in connection with an alleged conspiracy to defraud investors who bought about $7 billion in CDs sold through Stanford International Bank (SIB).
Hittner sentenced Stanford after criminal-defense attorney Ali Fazel told Hittner he should sentence Stanford to no more than 120 months in prison and federal prosecutor William Stelnach, of the U.S. Department of Justice in Washington, D.C., sought the maximum of 230 years in prison.
He told Hittner he wasn’t asking for sympathy or forgiveness, but said, “I’m telling you in my heart, I didn’t run a Ponzi scheme.”
Stelnach, deputy chief of the U.S. Department of Justice Criminal Division’s Fraud Section, told Hittner that Stanford’s statement was “obscene,” and the Mexia native is “one of the greediest criminals to ever appear in a criminal case.”
-- Brenda Sapino Jeffreys