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Jury: US can try to seize $330M in foreign accounts of convicted fraudster R. Allen Stanford
HOUSTON (AP) ' A jury has ruled that U.S. authorities can try to seize $330 million from foreign bank accounts controlled by convicted Texas fraudster R. Allen Stanford.
The Houston federal court jury determined Thursday that there was sufficient evidence that the frozen funds were among the $7 billion investors lost in a Ponzi scheme Stanford operated over 20 years. The same jury convicted Stanford this week on 13 of 14 fraud-related counts.
Thursday's decision doesn't mean U.S. authorities will get the money. Others are also vying for control of much of it.
Stanford could be sentenced to spend the rest of his life in prison. U.S. District Judge David Hittner set a June 14 sentencing date.