Allen Stanford was born March 24, 1950 in Mexia, Texas. His father, James Stanford, is former mayor of Mexia and a member of the Board of Directors of Stanford Financial Group. His mother, Sammie, is a nurse. After his parents divorced in 1959, Stanford and his brother went to live with their mother. Both of his parents remarried. Allen Stanford grew James' father, Lodis Stanford, began as a barber and became an insurance salesman. In order to provide credibility to his company, Allen Stanford falsely stated that his grandfather started Stanford Financial Group in 1932. Stanford Financial’s clients were affluent investors, institutions, and emerging growth companies throughout the world. Assets under management or advisement were in excess of US$8 billion.
Allen Stanford graduated from Eastern Hills High School in Fort Worth, Texas. In 1974, Stanford graduated from Baylor University in Waco, Texas, earning a Bachelor of Arts degree in finance.
Allen Stanford is a prominent financier, philanthropist, and sponsor of professional sports who has been charged with fraud. Stanford is the chairman of the privately held, wholly owned Stanford Financial Group of Companies. A fifth-generation Texan who resides in St. Croix, U.S. Virgin Islands, he holds dual citizenship, being a citizen of Antigua and Barbuda and a United States citizen.
In February 2009 Houston Chronicle article described Stanford as "the leading benefactor, promoter, employer and public persona" of Antigua and Barbuda. Knighted by the country in 2006, Stanford used the title "Sir Allen." Antiguans also generally referred to Stanford using the title. In October 2009 the National Honors Committee of Antigua and Barbuda voted unanimously to strip Stanford of his knighthood, and informed the prime minister of this decision on October 26. On November 2, 2009 the recommendation was forwarded to the Governor General. The order to revoke Stanford's knighthood and insignia was approved and was served upon Stanford in April 2010.
Allen Stanford was the first American to be knighted by Antigua and Barbuda and was presented with the honor by the then Governor-General of Antigua and Barbuda, Sir James Carlisle which was later rescinded on April 1, 2010 after Governor-General Dame Louise Lake-Tack signed the order revoking his knighthood. In Antigua and Barbuda in October 2009, the National Honors Committee of Antigua and Barbuda voted unanimously to strip Stanford of his knighthood, and informed the prime minister of this decision on October 26. On November 2, 2009 the recommendation was forwarded to the Governor-General who then ratified it.
On November 8, 2010, it was reported that Stanford had been hospitalized due to injuries sustained in a fight with other inmates at a private prison near Conroe Texas. Photographs show him with his neck in a brace, his eye half-shut, a bandage wrapped around his head, and shackled hand and foot.
A US judge has set a date of January 2011 for Stanford's fraud trial. Stanford, Federal Bureau of Prisons #35017-183, is incarcerated at the Federal Detention Center, Houston.
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