Allen Stanford Booted Off Billionaire List

Written by:
Jagajeet Chiba
Published on:
Allen Stanford

Allen Stanford, All Stanford, the Texan accused of an $8 billion fraud by U.S. regulators, was booted off the coveted Billionaire's list as was PartyGaming founder, Anurag Dikshit.

In 2006, Forbes named Dikshit the world's 207th-richest person.

Dikshit has since turned himself into U.S. authorities and could face a few months in prison, not to mention he's got to pay a $300 mil fine.

Another of the world's most wanted men, Bodog Founder, Calvin Ayre, found himself booted off the Forbes Billionaire list a year after he appeared on the 2006 cover.

Crime, however, did not disqualify one notable new entry to the list -- Mexican drug lord Joaquin "Shorty" Guzman, who is among the world's most wanted men and now worth $1 billion.

"He is not available for interviews," Forbes Senior Editor, Louisa Kroll said. "But his financial situation is doing quite well."

As for Allen Stanford, the Texan billionaire and cricket enthusiast has refused to co-operate with investigators looking into his alleged $8 billion fraud.

The filing from Mr Stanford said: "I hereby assert my privilege against self-incrimination under the Fifth Amendment to the United States Constitution and decline to testify or provide an accounting, and will continue to decline to testify, provide an accounting or produce any documents related to the matters set forth in the Commission's complaint."

The one time billionaire specifically stated he would not provide evidence about how he solicited funds from investors, where investors' funds were kept or whether he destroyed documents relating to the alleged fraud.

Stanford ran one of his biggest banks out of the online gambling domicile of Antigua.  That Caribbean nation promptly shut the bank down, much to the dismay of antsy investors.

Jagajeet Chiba, Gambling911.com

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