JP Pritchard

Stanford Executive Sentenced

Comments: 0  | Leave A Comment
Former Sanford Financial CEO, James M. Davis

Former Stanford Financial CEO, James M. Davis

The fate of the star Prosecution witness in the trial of convicted Ponzi-schemer, R. Allen Stanford, is known.

For those among the investors who lost $7-billion dollars to R. Allen Stanford’s scams and schemes, it was the crime of the century: Lifetime savings were lost, dreams were crushed, lives were ruined. In the end, Stanford was convicted on 13 counts of fraud and sentenced to 110-years in a prison in Central Florida.

Convicted Ponzi Schemer, R. Allen StanfordTuesday, the man who helped put him away was, himself, sentenced for his role in the demise of Stanford Financial, and the cheating of its investors.

James M. Davis faced 30-years in prison for lying and promoting the fakery being foisted by Stanford. But he also providing the most-damning testimony against his former employer and former college roommate. In the end, James Davis was sentenced to 5-years in prison for three counts of conspiracy and fraud.

At the hearing, Davis said he was “ashamed for perverting what was right”, and “hurting thousands of investors.”

Join the Conversation! Share and Discuss!




Get every new post delivered to your Inbox.

Join 3,519 other followers