Vice Media announces hundreds of layoffs
The tycoon Allen Stanford was jailed in 2012 after he scammed an incredible $7 billion from investors in a 20-year Ponzi scheme.
Stanford's scam was uncovered in 2009.
He was found to have sold fake high-yielding certificates of deposit through his Antigua-based Stanford International Bank.
Stanford told investors their money was in good hands but was using their deposits to fund his lavish lifestyle.
He spent the stolen cash on private jets and pumping money into his own cricket team.
READ MORE: BERNIE MADOFF AND THE BIGGEST FRAUD IN U.S HISTORY
Federal agents raided the offices of Stanford Financial in February 2009.
He was charged with "massive ongoing fraud" around his investment scheme.
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