Pamela Phillips was convicted of the first-degree murder of Gary Triano after almost two months of trial and two days of deliberations. Ronald Young, who investigators said planted the pipe bomb that exploded in Triano's car as he left a resort after a round of golf, was convicted in 2010 and is serving a life sentence.
Phillips faces 25 years to life.
Triano was a prominent Tucson real estate developer who made millions from Indian casinos. The Arizona Star said he was also deep in debt, with creditors and former business associates trying to collect a total of $9 million from him at the time of his death.
During the trial, Phillips' lawyers attempted to convince the jury plenty of other people wanted Triano dead.
The seven-year marriage between Phillips and Triano produced two children but ended in 1993. Prosecutors said that three years later Phillips was broke and eager to collect on her ex-husband's $2 million life insurance policy.
Investigators said she turned to Young, after meeting him in Aspen, Colo. Prosecutors used emails and other documents to show a financial relationship between the two.
Young, who disappeared after becoming a suspect in Triano's death, was arrested in Florida in 2005. Phillips was arrested in Austria four years later.