Ex-Stanford executive gets 5 years in $7B swindle
HOUSTON — The star prosecution witness at the fraud trial of Texas financier R. Allen Stanford expressed remorse Tuesday before being sentenced to five years in prison for helping to bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. history.
James M. Davis had faced up to 30 years in prison after pleading guilty in 2009 to three fraud and conspiracy charges. At Stanford's trial last year, Davis testified that as chief financial...
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