High court rejects appeals of 2 former Stanford executives

AP News
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Posted: Mar 07, 2016 9:39 AM

WASHINGTON (AP) — The Supreme Court has rejected appeals from two defendants convicted of helping disgraced financier R. Allen Stanford cheat investors out of more than $7 billion in one of the largest Ponzi schemes in U.S. history.

The justices on Monday let stand the convictions of Gilbert Lopez Jr. and Mark Kuhrt. Both were found guilty in 2012 of wire fraud and conspiracy charges.

Prosecutors said Lopez and Kuhrt helped hide Stanford's misuse of investor funds. Lopez is a former chief accounting officer of Stanford Financial Group Co. Kuhrt is a former global controller of Stanford Financial Group Global Management.

The men claimed there was not enough evidence to convict them and that certain expert testimony was improperly excluded.

They each were sentenced to 20 years in prison.