World's Biggest Cricket Benefactor Found Guilty Of $7 Billion Ponzi Scheme

Allen Stanford, the Texas "financier" who once lavished millions of dollars on cricketers around the world, was convicted today of allegedly swindling investors out of more than $7 billion:

Prosecutors called Stanford a con artist who lined his pockets with investors' money to fund a string of failed businesses, pay for a lavish lifestyle that included yachts and private jets, and bribe regulators to help him hide his scheme.

[ AP]