The New York Times on March 5, 2012 released the following:
“Jurors Told to Keep Talking in Financier’s Fraud Trial
By BLOOMBERG NEWS
The judge in the fraud trial of the financier R. Allen Stanford ordered the jury on Monday to return to deliberations after it said it could not reach a unanimous verdict in its fourth day of reviewing the evidence.
The eight men and four women on the jury told Judge David Hittner of Federal District Court for the Southern District of Texas in Houston that they had been unable to reach a verdict on each of the 14 counts, the judge said, reading a note they had written to lawyers for both sides.
Judge Hittner instructed jurors to continue deliberations, saying that the trial had taken a lot of time and money and that it was unlikely that the lawyers could put on a better trial or that another jury could be more conscientious.
”It is your duty to agree upon a verdict if you can do so, without surrendering your conscientious opinion,” Judge Hittner said.
Mr. Stanford, 61, is accused of leading a $7 billion international fraud scheme involving the sale of certificates of deposit issued by his bank, which was based in Antigua.
He faces up to 20 years in prison if found guilty of the most severe charges, mail fraud and wire fraud. Mr. Stanford says he is not guilty.
The jury left for the day after it was told to resume deliberations.
Jury selection began Jan. 23. The panel heard five weeks of evidence.
The government presented testimony from investors who had bought the reportedly fraudulent C.D.’s and from the executives who had helped sell them.
The witnesses included government officials and the former chief financial officer of the Stanford Financial Group, James M. Davis, who pleaded guilty to fraud-related charges in 2009 and testified for five days against Mr. Stanford.
The defense presented former Stanford employees who said they had seen no evidence of fraud at the company. Mr. Stanford did not testify during the trial.”
Douglas McNabb – McNabb Associates, P.C.’s
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