After four hours of closing arguments, the jury in the R. Allen Stanford trial has begun the chore of deliberating his fate.
Stanford faces 14 charges ranging from mail and wire fraud to conspiracy.
He is accused of stealing $7 billion in a massive ponzi scheme.
Prosecutors claim that Stanford lied for years to deceive and defraud investors. They also stated that he falsified records and documents and lied to investors about their money.
Government attorney William Stellmach told members of the jury that Stanford used the money to promote his businesses, and live a lavish lifestyle with yachts and cricket tournaments at the cornerstone of it.
Upon the defense for Stanford, Stanford’s court-appointed attorneys urged the jury to consider the evidence and not just the prosecutor’s statements.
If Stanford is convicted on all 14 charges, the 61-year-old former financier could spend the rest of his life in prison. U.S. Federal Judge David Hittner would hand down the sentence.