Stanford to be Sentenced in June
Antigua St John’s – US authorities are expected to go after US$330 M in frozen foreign bank accounts after a jury found that R Allen Stanford had stolen this money from investors.
Stanford will be sentenced by US District Judge David Hittner on June 14. Hittner could decide to impose consecutive 20-year sentences that would add up to life in prison.
The jury’s decision is expected to intensify focus on the war between US authorities and Antiguan liquidators.
Experts predict the process could take years to complete, since the countries where the accounts are frozen, including Canada, Switzerland, and Britain, must evaluate each request.
Stanford was convicted on Tuesday on 13 of 14 fraud-related charges of operating a Ponzi scheme.
Three more Stanford executives are scheduled to go to trial in September for their alleged involvement.