No Stanford Verdict Till Monday!

A verdict in the fraud trial of the dethroned and disgraced Allen Stanford will not be made public before Monday, owing to the unavailability of U.S. District Judge David Hittner to accept the verdict before that time.

Stanford, who is facing a whopping 14 counts in his indictment, is accused of defrauding as much as $7 BILLION from his investors. Even if the jury does convict Stanford however, the full extent of the legal proceedings would not end. The jury would “be asked to determine whether the government may seize 31 U.S. properties that belonged to his companies.”

Most of Stanford’s personal assets and those of his companies — all subsidiaries of Houston-based Stanford Financial Group — are under the control of a receiver appointed when the government filed a civil fraud suit against Stanford’s international financial network on Feb. 17, 2009.

Stanford is particularly relevant in the Caribbean where he operated Stanford International Bank. The bank operated in Montserrat, before moving to the island of Antigua.

Prosecutors contended Stanford was kicked out by Montserrat regulators, but Stanford’s lawyers said he voluntarily surrendered his banking license there because he was already eying Antigua as a new location.

We will keep you posted.

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