Two former associates of R. Allen Stanford have been convicted of fraud for trying to help the imprisoned U.S. 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.
Topics Fraud
Was this article valuable?
Here are more articles you may enjoy.
Most Are Overcharged for Property Insurance, Vanderbilt Study Says 
New York State Has Budget Deal That Includes Auto Insurance Reforms: Gov. Hochul 
Brown & Brown Wins Temporary Injunction Against Howden 
Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less 
