Jury Orders Forfeiture Of $330M In Stanford Accounts

Law360, New York (March 8, 2012, 7:29 PM EST) -- The Texas federal jury that convicted Robert Allen Stanford of operating a $7 billion Ponzi scheme on Thursday found that $330 million in foreign accounts linked to the Stanford Financial Group should be forfeited.

Two days after convicting Stanford on all but one of the 14 counts against him, the jury said the millions of dollars in 29 accounts around the world are proceeds of Stanford’s fraud and should be forfeited, according to the U.S. Attorney’s Office for the Southern District of Texas.

The forfeited funds...
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Case Information

Case Title

USA v. Stanford et al


Case Number

4:09-cr-00342

Court

Texas Southern

Nature of Suit

Date Filed

June 18, 2009

Law Firms

Government Agencies

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