|Page (1) of 1 - 03/07/12||email article||print page|
Jury to decide if Stanford accounts can be seizedJury to soon decide if $330 million in accounts of convicted fraudster Stanford can be seized
HOUSTON (AP) ' A criminal forfeiture proceeding to decide if federal authorities will be able to seize $330 million from nearly 30 accounts controlled by convicted Texas tycoon R. Allen Stanford and others has wrapped up.
Prosecutors concluded their case in Houston federal court on Wednesday after presenting testimony from a U.S. postal inspector who told jurors that some of the billions of dollars Stanford took from investors were put into two homes for a girlfriend and an account she controlled dubbed "Baby Mama Trust."
Stanford's attorneys did not present any witnesses.
Closing arguments in the forfeiture proceeding were expected later Wednesday.
The same jury that convicted Stanford on Tuesday after a more-than-six-week trial will now decide if these accounts contain criminal proceeds from the financier's scheme.
Related Keywords:Stanford Trial,Legal proceedings,Law and order,General news