Stanford’s Accountants Convicted of Hiding $7 Billion Fraud
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Two former accounting executives were found guilty of helping Texas financier R. Allen Stanford hide a Ponzi scheme that bilked investors of $7 billion.
A jury of seven men and five women in federal court in Houston deliberated for 16 hours over three days before convicting Stanford’s ex-Chief Accounting Officer Gilbert Lopez, 70, and former Global Controller Mark Kuhrt, 40, of conspiring to hide a fraud scheme built on bogus certificates of deposit at Antigua-based Stanford International Bank Ltd.