Billionaire indicted in alleged $7B fraud - East Valley Tribune: Business

Billionaire indicted in alleged $7B fraud

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Posted: Friday, June 19, 2009 1:32 pm | Updated: 2:00 am, Sat Oct 8, 2011.

WASHINGTON -- Brash Texas billionaire R. Allen Stanford was indicted Friday on charges his international banking empire was really just a Ponzi scheme built on lies, bluster and bribery.

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