Disgraced banker Stanford didn't pay his own taxes | business | Hindustan Times
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Disgraced banker Stanford didn't pay his own taxes

Public records show disgraced financier R. Allen Stanford owes hundreds of millions of dollars in federal taxes.

business Updated: Feb 19, 2009 22:35 IST

Public records show disgraced financier R. Allen Stanford owes hundreds of millions of dollars in federal taxes. The records show four federal tax liens against Stanford totaling more than $212 million. The liens are from 2007 and 2008. Federal officials charge Stanford with bilking investors out of billions of dollars by claiming unrealistic returns. His bank is closed following a raid on Tuesday.

Stanford is known for an extravagant lifestyle, including private jets, friendships with congressmen and big spending on sport sponsorships and charity.