Mealeys

Jury Finds That Stanford Must Turn Over $330M In 29 Foreign Financial Accounts

HOUSTON - Two days after finding Texas financier R. Allen Stanford guilty on 13 criminal charges relating to his operation of a massive Ponzi scheme, a federal jury in Texas on March 8 returned a special verdict finding that Stanford must forfeit $330 million held in 29 financial institutions abroad, according to a press release issued by the Office of the U.S. Attorney for the Southern District of Texas (United States of America v. Robert Allen Stanford, No. 09-342, S.D. Texas).

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