Accused Ponzi schemer suing feds for $7.2B

HOUSTON — Jailed financier Allen Stanford, accused of running a massive Ponzi scheme, filed a $7.2 billion lawsuit accusing federal prosecutors and regulators of depriving him of his constitutional rights.

The government agents "undertook illegal tactics" to prosecute Stanford and "engaged in unfair, abusive law enforcement methods and tactics" that left him broke and unable to properly defend himself, according to the lawsuit filed in federal court in Houston late Wednesday.

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Accused Ponzi schemer suing feds for $7.2B