HOUSTON, March 6 (UPI) -- U.S. billionaire financier R. Allen Stanford was convicted in Houston Tuesday of running a massive Ponzi scheme through an offshore bank.
A federal jury convicted the 61-year-old Texas banker of all but one count of an indictment alleging the $7 billion fraud. He was acquitted of a single wire fraud count alleging he bought Super Bowl tickets for a bank regulator in Antigua, the Houston Chronicle reported.