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Jury deliberates on seizure of Stanford accounts

Jury deliberates whether feds can seize $330M from convicted fraudster Stanford's accounts By The Associated Press

HOUSTON (AP) ' A jury is deciding if federal authorities can seize $330 million from nearly 30 accounts controlled by convicted Texas tycoon R. Allen Stanford and others.

Prosecutors allege the funds are proceeds from a massive Ponzi scheme and can be traced back to investors who lost billions.

The deliberations in Houston federal court began Thursday.



They are 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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