Allen Stanford, the former chairman of the defunct financial company Stanford Financial Group, was found guilty of conspiracy and fraud charges by a grand jury Tuesday afternoon for leading a $7 million Ponzi scheme from his offshore bank in Antigua.
According to Reuters, a jury of eight men and four woman found Stanford guilty of 13 out of 14 charges. The news comes a day after the jury was unable to reach a verdict, which resulted in rumors of a potential mistrial.
Andrew Jones is a staff writer/reporter for Raw Story. Besides covering politics, he is also a freelance sports journalist, as well as a slam poetry and music artist. You can follow him on Twitter @sluggahjells.
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