James M. Davis, the former chief financial officer for Stanford Financial Group and Stanford International Bank Ltd., pleaded guilty Thursday morning to three criminal charges in connection with the collapse of Stanford International Bank.
Davis pleaded guilty to one count of conspiracy to commit mail, wire and securities fraud; one count of mail fraud; and one count of conspiracy to obstruct SEC proceedings. He faces up to five years in prison on the two conspiracy charges and up to 20 years in prison on the mail fraud charge.
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