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Jury deciding if $330 million in accounts of convicted fraudster Stanford can be seized
HOUSTON (AP) ' A jury is deciding whether it will allow federal authorities to seize $330 million from nearly 30 accounts controlled by convicted Texas tycoon R. Allen Stanford and others.
Jurors got the case Wednesday after a brief criminal forfeiture proceeding in Houston federal court. After hearing closing arguments, they decided to start deliberating on Thursday.
The accounts in the case are alleged to contain criminal proceeds from Stanford's massive Ponzi scheme.
The same jury convicted Stanford on Tuesday on 13 counts of orchestrating a scheme that took billions from investors for more than 20 years.
Authorities allege that $2.5 million of what they are trying to seize went to one of Stanford's girlfriends to help her buy two homes, and to a bank account she controlled dubbed the "Baby Mama Trust."