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Newbie ![]() Joined: Apr 30 2013 Location: United Kingdom Online Status: Offline Posts: 24 |
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because of a gag order placed on attorneys in the case. Prosecutors and Stanford's relatives declined to comment on the verdict, but former investor Cassie Wilkinson found comfort in it. "As an investor, you have to doubt whether or not you were stupid or just taken advantage of. This relieves that doubt. It's a vindication," said Wilkinson, 62, who lives in Houston. She declined to say how much money she and her husband lost. A civil trial in which prosecutors hope to seize about $300 million from more than 30 Stanford-controlled accounts in countries including Switzerland,toms the shoes, Britain and Canada started later Tuesday before the same jury and will continue Wednesday. U.S. District Judge David Hittner will likely set Stanford's sentencing date after the civil trial, which could last as little as a full day. Jurors have been told not to comment on the case until the civil trial ends. The most serious charges against Stanford carry up to 20 years in prison, and if Hittner ordered him to serve his sentences consecutively, the 61-year-old could spend the rest of his life behind bars. In a similar but unrelated case, disgraced financier Bernard Madoff was sentenced to 150 years in prison for orchestrating the largest Ponzi scheme in history. Prosecutors say Stanford used investors' money to fund a string of failed businesses,http://falv.zero335.com/bbs//home.php?mod=space&uid=384815&do=blog&id=549531,cheap toms, bribe regulators and pay for luxuries such as yachts and private jets. His attorneys portrayed Stanford as a visionary entrepreneur who made money for investors and conducted legitimate business deals. Stanford's net worth was once estimated at more than $2 billion, but he received court-appointed attorneys after his assets were seized or frozen. During the more than six-week trial, prosecutors presented testimony from ex-employees,http://www.yxenuo.com/forum.php?mod=viewthread&tid=715768, emails and financial statements that they said showed how Stanford took billions of dollars over 20 years from certificates of deposit, or CDs,toms outlet, at his bank on the Caribbean island nation of Antigua. They said he lied to investors from more than 100 countries, telling them their funds were being safely invested in stocks, bonds and other securities. The prosecution's star witness James M. Davis, the former chief financial officer for Stanford's various companies told jurors he and Stanford worked together to falsify bank records and other documents to conceal the fraud,http://www.bjopel.com/bbs/forum.php?mod=viewthread&tid=829619. Stanford did not testify in his own defense. His attorneys told jurors the financier was trying to consolidate his businesses to repay investors when authorities seized his companies. They accused Davis of being behind the fraud and lying to get a reduced sentence. Davis pleaded guilty to three fraud and conspiracy charges in 2009 as part of a deal with prosecutors. Three other former Stanford executives are scheduled for trial in September. A former Antiguan financial regulator accused of accepting bribes from Stanford also was indicted and awaits extradition to the U.S. Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ. An insid
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