Allen Stanford was an American financier and former billionaire who became infamous for orchestrating a massive Ponzi scheme. He was the founder of the Stanford Financial Group, which was based in Antigua and offered various financial services, including investment management and banking. His fraudulent activities came to light in 2009, leading to his arrest and subsequent conviction. In 2012, Stanford was sentenced to 110 years in prison for his role in defrauding investors out of approximately $7 billion. The scheme involved selling fraudulent certificates of deposit through his offshore bank, the Stanford International Bank. His case highlighted significant issues in financial regulation and investor protection.