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Judge: Jury has verdict on frozen Stanford funds

Judge: Jury reached verdict on whether feds can seize $330M in frozen Stanford accounts By The Associated Press

HOUSTON (AP) ' A judge says jurors in Houston have reached a verdict in the government's civil case against convicted fraudster R. Allen Stanford in which authorities are seeking to seize $330 million from foreign accounts he controlled.

Prosecutors say the money was part of more than $7 billion Stanford stole from investors over two decades.

U.S. District Judge David Hittner says the verdict will be read later Thursday.

The decision is part of a brief criminal forfeiture proceeding that ended Wednesday. It followed Stanford's conviction Tuesday by the same jury on 13 of 14 fraud-related counts for orchestrating a scheme that took more than $7 billion over 20 years from investors.

A sentencing date for Stanford is not expected to be set until after the jury decides on the forfeiture proceeding.

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Related Keywords:Stanford Trial,Legal proceedings,Law and order,General news

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