Stanford Found Guilty on All But One Count

A federal jury has found former Texas financier R. Allen Stanford guilty on 13 of the 14 counts against him today. Jurors spent almost four days deliberating before returning the verdict just before noon. The jury found Stanford not guilty on one count of wire fraud. He was accused of cheating investors out of $7 billion in a huge Ponzi scheme. One of his flagship companies, Stanford Financial, was headquartered in The Galleria-area. Sentencing likely won't come until after the jury decides where some of Stanford's assets that are still in various accounts should go.

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