Allen Stanford found guilty of 13 fraud and conspiracy charges

Allen Stanford
Texan billionaire Allen Stanford has been found guilty of administering a ponzi scheme Photo: ITV News

He was a businessman so rich that he launched his own international cricket series but today Allen Stanford was found guilty of running a fraudulent investment scheme in the United States.

He tricked investors out of £7 billion to fund his glittering lifestyle and now faces twenty years in jail.