Deliberations Continue in R. Allen Stanford Fraud Trial

Texas Sports Tycoon R. Allen Stanford learns his fate next week after closing arguments in his fraud trial this week. The jury will resume deliberations Friday, and will announce their decision, if any, next Monday.

The jury began deliberations Wednesday after closing arguments from both prosecutors and the defense. The delayed announcement is due to the lack of a trial judge to hear the decision. Stanford is currently jailed on accusations that he bilked investors out of $7 billion.

If convicted, Stanford could face over 20 years in prison for fraud.