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VOL. 127 | NO. 15 | Tuesday, January 24, 2012
Jury Selection Begins in Stanford Fraud Trial
JUAN A. LOZANO | Associated Press
HOUSTON (AP) – Jury selection has begun in the oft-delayed trial of jailed U.S. financier R. Allen Stanford, who is accused of bilking investors out of $7 billion in a vast Ponzi scheme.
Opening arguments are expected to start Tuesday in federal court in Texas.
Prosecutors say Stanford funded a lavish lifestyle with the money of depositors. His financial empire stretched from the U.S. to Latin American and the Caribbean.
He denies wrongdoing. His attorneys have said they expect him to testify.
Stanford was indicted more than 2½ years ago, but his trial was delayed while he was treated at a prison hospital for an addiction to an anti-anxiety drug.
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