MoneyMaxMusings

If you ever harbor any inclinations towards a life of ponzi scheming, if even for a second, you may want to consider the sad case of inmate 35017-183.

Once No. 205 on Forbes’ list of richest Americans. Once he had a flock of women whom he would take on private jet flights across the world. Once he wore expensive tailored suits and lived in luxury home. Once, he was addressed by all as Sir.

Now, everything has changed for the Texas financier who is now in jail, awaiting trial for allegedly operating a $7 billion Ponzi scheme from Stanford International Bank Ltd, his offshore bank on the Caribbean island of Antigua.

Now his life is devoid of all the luxurious amenities it had before. Nobody calls him “Sir,” and it seems all his friends have disappeared.

“Stanford’s defense is paid for with U.S. tax dollars and his 81-year-old mother is struggling to help.”

“I’ve maxed out my credit cards and I’m on my last few thousand dollars of savings,” said Sammie Stanford in a recent interview. (She has also had to reverse mortgage her house).

The man who once ran a business with operations in 140 countries has different priorities now. In a recent court hearing he could be heard complaining about being served a peanut butter sandwich on stale bread.

If convicted, Standford is expected to spend the rest of his life in jail.