Quantcast


Last updated: February 19. 2013 6:16PM - 104 Views

Story Tools:

Font Size:

Social Media:

(AP) Two former associates of R. Allen Stanford have been convicted of fraud for trying to help the imprisoned Texas financier conceal a $7 billion Ponzi scheme.


Prosecutors in Houston say 70-year-old Gilbert Lopez Jr. and 40-year-old Mark Kuhrt were both convicted Monday of conspiracy to commit wire fraud and nine counts of wire fraud.


Each count carries a maximum 20 years in prison.


Earlier this year, Stanford was convicted on 13 fraud-related counts and sentenced to 110 years in prison. Prosecutors say Lopez and Kuhrt helped to hide Stanford's misuse of assets.


Lopez is a former chief accounting officer of Stanford Financial Group Co. Kuhrt is a former global controller of Stanford Financial Group Global Management.


Sentencing has been set for Feb. 14.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com