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R. Allen Stanford
Year made public: 2009
Estimated Losses: $8 billion
Stanford, founder of Stanford Financial Group and the Antigua-based Stanford International Bank, was a trusted figure among elite investors. The SEC, FBI, and IRS had inquired for years about his company, which promised high-yielding returns on certificates of deposit. In mid-February, the SEC filed a civil case against Stanford and two associates, accusing the Houston-based company of "orchestrating" a massive fraud.
