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Allen Stanford Guilty on 13 of 14 Counts

A federal jury has found Allen Stanford guilty on 13 of the 14 financial fraud counts he was facing, according to tweets from reporters at the federal courthouse.

The verdict ends a long trial against the onetime kingpin Houston financier, who spent millions on cricket and Caribbean resorts but who, according to prosecutors, ran a $7 billion Ponzi scheme.

The jury had earlier told U.S. District Judge David Hittner they could not reach a unanimous verdict on all 14 counts against Stanford; he sent them back to deliberations.

The instructions to the jury in the complicated case were 44 pages long.

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