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Stanford ex-CFO Davis gets 5-year prison sentence
January 22, 2013 / 3:47 PM / 5 years ago

Stanford ex-CFO Davis gets 5-year prison sentence

HOUSTON, Jan 22 (Reuters) - James Davis, the government’s top witness in convicted swindler Allen Stanford’s fraud trial, was sentenced to 5 years in prison for his role in a $7 billion Ponzi scheme.

Davis, who could have been sentenced to 30 years, told the court: “I am ashamed and I am embarrassed.”

U.S. District Judge David Hittner, who presided over Stanford’s trial, handed down the punishment on Tuesday. (Reporting By Anna Driver and Eileen O‘Grady; Editing by Gerald E. McCormick)

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