`` It 's terrible . '' Texas billionaire Allen Stanford is taken into custody on a fraud-related charge . The FBI says it has arrested the former chairman of the board at hedge fund Elliott Management and his wife, who are accused of using their wealth to defraud investors in two failed California real estate projects. Forbes magazine names Stanford the 205th richest American in 2008 .
Texas billionaire Allen Stanford is taken into custody on a fraud-related charge . The FBI says it has arrested the former chairman of the board at hedge fund Elliott Management and his wife, who are accused of using their wealth to defraud investors in two failed California real estate projects. Forbes magazine names Stanford the 205th richest American in 2008 .