Stanford waits to learn fate in fraud trial

March 1, 2012 4:51:31 PM PST
Jailed Texas tycoon R. Allen Stanford will have to wait until at least next week to learn his fate.

Jurors in the financier's fraud trial in Houston ended deliberations for the day in federal court on Thursday.

They'll resume Friday morning, but if they reach a verdict Friday it won't be announced until Monday. That's because the trial judge won't be available to hear the decision.

The jury began deliberating Wednesday after hearing closing arguments from prosecutors and defense attorneys.

Stanford is accused of bilking investors of more than $7 billion through the sale of certificates of deposit from his Caribbean bank.

His attorneys say the financier's business empire was legitimate.

If convicted, Stanford could be sentenced to more than 20 years in prison.


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