Allen Stanford
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Allen Stanford jailed for 110 years for $7bn Ponzi scheme

15 June 2012 Last updated at 06:47 BST

Disgraced tycoon Allen Stanford has been sentenced to 110 years in jail for operating a Ponzi scheme that defrauded investors of more than $7bn (£4.5bn).

The scheme was described as one of the largest in US history.

In court, Stanford denied any guilt, telling the judge at his sentencing hearing: "I did not defraud anybody."

Tom Esslemont reports.