Stanford trial jury told to continue deliberations

March 5, 2012 3:29:34 PM PST
A federal judge has told jurors to continue deliberating the fate of jailed Texas tycoon R. Allen Stanford after they indicated they were deadlocked on at least some of the 14 charges against the financier.

Stanford is accused of bilking investors out of $7 billion in a massive Ponzi scheme.

U.S. District Judge David Hittner on Monday gave jurors in Houston an order meant to prod juries toward a unanimous verdict. A short time later, the jury ended work for the day. Deliberations were to resume Tuesday.

The jury has been deliberating since Wednesday.

Defense attorneys said Stanford made money for investors who bought certificates of deposit from his Caribbean bank.

Prosecutors countered that Stanford spent their money on failed businesses and a lavish lifestyle.