On March 6, a federal court jury in Houston found R. Allen Stanford, former chairman of Stanford Financial Group of Houston, guilty of 13 of 14 criminal counts against him. Stanford faced the 14 criminal charges in connection with an alleged conspiracy to defraud investors who bought about $7 billion in certificates of deposit sold through Stanford International Bank.
March 06, 2012 at 12:00 AM
1 minute read
On March 6, a federal court jury in Houston found R. Allen Stanford, former chairman of Stanford Financial Group of Houston, guilty of 13 of 14 criminal counts against him.
Stanford was stoic as the jury verdict was read shortly before noon. Following the verdict, he looked several times at family members, including his mother and two daughters, who were in the courtroom.
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