James Davis, the government's top witness in convicted swindler Allen Stanford's fraud trial, was sentenced on Tuesday to five years in prison for his role in a $7 billion Ponzi scheme.
Davis, 64, who pleaded guilty in 2009 to three charges and could have been sentenced to 30 years, told the court in a breaking voice: "I am ashamed and I am embarrassed." He added that he let down his family, co-workers and thousands of investors.
Davis pleaded guilty to fraud, conspiracy to commit fraud and conspiracy to obstruct a Securities and Exchange investigation.
Stanford was convicted last year of bilking thousands of investors using fake certificates of deposit issued by Stanford International Bank in Antigua. He is serving a 110-year prison term in Florida.
Davis spent a total of 10 days on the witness stand during two trials, including five days testifying against Stanford, his boss for more than 20 years and a former college roommate.
Davis' lawyer, David
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