News: Page (1) of 1 - 03/06/12 Email this story to a friend. email article Print this page (Article printing at page facebook

Jury reaches verdict in financier Stanford's trial

Judge says jury has reached verdict in $7B Ponzi scheme trial of Texas financier Stanford By The Associated Press

HOUSTON (AP) ' A federal jury has reached a verdict in the Houston fraud trial of jailed Texas tycoon R. Allen Stanford.

U.S. District Judge David Hittner says the jury's verdict on charges Stanford bilked investors out of $7 billion in a massive Ponzi scheme would be announced later Tuesday.

Jurors have been deliberating since last Wednesday.

Defense attorneys say Stanford made money for investors who bought certificates of deposit from his Caribbean bank.

Prosecutors contend that Stanford spent investors' money on failed businesses and a lavish lifestyle.

Page: 1

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


Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved