HOUSTON, July 20, CMC – Allen Stanford, who was convicted earlier this year of running a multi-billion dollar Ponzi scheme, has been moved to a high security federal prison in Central Florida to begin serving his 110-year sentence.
The US Bureau of Prisons said Stanford was moved to the Coleman II penitentiary on July 10 from the federal detention centre in Houston. He has been in custody since his arrest in June 2009.
The Coleman II facility, located 50 miles northwest of Orlando, serves brunch on the weekend, has Bocce ball courts, a music centre and a game room, according to the facility’s orientation handbook.
In March, a jury found the flamboyant 62-year-old Texas financier guilty of defrauding more than 20,000 investors of seven billion US dollars through the sale of bogus certificates of deposit at his Antigua-based Stanford International Bank (SIB).
He used those funds to bankroll a lavish lifestyle that included luxury homes, yachts, jets and financing a cricket competition in the Caribbean.
