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During the Great Depression, Sanford was born on December 23, 1935, in Saint Paul, Minnesota. Sanford’s mother, Edith, died of breast cancer when he was four years old. He was apparently caught for drinking and fighting as a teenager and sent to a juvenile detention centre, where he was held for 36 days before being released on the condition that he enrol in college. Sanford’s first marriage (1960-1982) produced two sons: Scott, a ship captain, and Bill, a physical therapist. Sanford met Colleen Anderson, his second wife, in 1987, when he was 52 years old (then 36). Their divorce was completed in 2005 after they married in 1995.
Sanford’s first job was working in his father’s clothing store when he was eight years old. Later, he enrolled in the University of Minnesota with the intention of becoming a doctor, but struggled with chemistry and switched majors, eventually earning a bachelor’s degree in psychology in 1958. Sanford gained his money as the owner of First PREMIER Bank and PREMIER Bankcard, two subprime credit card companies. The bank is recognised for offering a large selection of high-interest, subprime credit cards targeted at those with bad credit. In 2007, Sanford agreed to pay $4.5 million as part of a deal with the New York Attorney General over allegations of fraudulent marketing tactics. Senator Bernie Sanders mentioned Premier Bank’s offer of a credit card with a 79.9% interest rate and a $300 limit as an example of “extortion and loan sharking.” T. Denny Sanford was rated #1103 on Forbes’ World’s Billionaires list in 2018, with a net worth of $2.2 billion. Sanford was being probed for possessing child pornography in 2020, according to reports. Before sending the case to the US Department of Justice, investigators secured a search warrant. Several institutions have reconsidered his donations as a result of the inquiry.
Personal Profile of T. Denny Sanford
- Name: T. Denny Sanford
- Date of Birth: 223 December 1935
- Age: 85 years
- Birth Sign: Capricrn
- Nationality: American
- Parents: Edith Sanford
- Siblings: Byron Sanford
- Birth Place/City: Saint Paul, Minnesota, United States
- Profession: Businessman
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