Two former accounting executives were convicted of helping Texas financier R. Allen Stanford hide a Ponzi scheme that bilked investors of $7 billion, Bloomberg News reported yesterday. A jury of seven men and five women in federal court in Houston deliberated for 16 hours over three days before convicting Stanford’s ex-Chief Accounting Officer Gilbert Lopez and former Global Controller Mark Kuhrt of conspiring to hide a fraud scheme built on bogus certificates of deposit at Antigua-based Stanford International Bank Ltd. The men were each found guilty today of 9 of 10 wire fraud counts and one count of conspiracy to commit wire fraud.
