Allen Stanford, the Texas banker and cricket aficionado, faces decades in prison after being convicted of running a $7bn Ponzi scheme and ordered to forfeit $330m in customer money.
A Texas jury of eight men and four women convicted Mr Stanford on 13 of 14 counts of fraud, money laundering and obstructing a Securities and Exchange Commission investigation after a six week trial.
Mr Stanford has been held in a federal prison since his June 2009 arrest and will be sentenced on June 14.
This week’s verdict closes a three-year chapter involving claims by Mr Stanford that he suffered amnesia following a prison fight.
The jury also found that $330m held in offshore bank accounts, including one designated the “Baby Mama Trust” for a woman who had Mr Stanford’s children, should be returned to investors.
To date the thousands of investors have not received a penny.
Three former Stanford employees are set to go to trial for their alleged roles in the scheme later this year.
A former Antiguan regulator has also been charged and is under house arrest on the island.
The US is seeking extradition.
All four have denied wrongdoing.
Prosecutors continue to investigate other ties to the fraud.
The Department of Justice is investigating whether Société Générale, the French bank, performed adequate due diligence over the Stanford accounts or were active participants to the fraud, people familiar with the matter say. Société Générale has said it is co-operating with the investigation.
IT LOOKS LIKE SKER IS gOD IN DOMINICA BECAUSE MORNING NOON AND NIGHT ALL YOU CALLING HIS NAME. WHY DONT U GUYS GET A LIFE AND WAIT FOR ELECTION TO. PUT HIM OUT AND WHILL U TALKING I HOPE U HAVE ALL THE PROOF THAT SKERO IS WHAT U SAYING HE IS I WOULD LIKE TO SEE THAT PROOF . HOPE U WILL BE CALLED UPON TO BACK YOUR CLAMES
why dominican afraid to comment on this page i see so many other comments on other thing shame on us
great words lock it i hope they learn from that sanford thing
Those scamps raping,pillaging and plundering Waitikubuli,you too will be disgraced. It’s early days still.Keep on cursing the people..I am sure Stanford thought he was all Supreme. His fall has been GREAT! Yours will be GREATER!
Skerro and his blind followers, please take note.
shut up!! sackway sorte!!
It early still….Sanford was a SUPERMAN just like SuperSkerro.
I pray that you live long enough to see and learn many things.
lol
There is a saying: never be envious of other people’s money or possessions. This case could not be truer.
And the arrogance of these people who think they can get away with doing these things. Oh how I wish our justice system had the backbone and resources to go after our wrongdoers. I would love to see some Dominican politicians wearing orange jumpsuits.
Just eat well and exercise and stay safe, you must live to see it.
Jumpsuit. Pierce jumpsuit. Blue shirt and dungary shorts with pig snout soup.one account villa mania
Yes the saying is true,but the fact is those same wrong doers are using the justice system as their walking stick;you see….