Stanford foreign accounts should be forfeited: jury

HOUSTON (Reuters) - Some $330 million stashed in foreign accounts linked to convicted fraudster Allen Stanford should be forfeited, a jury found on Thursday.

The verdict allows the U.S. government to start trying to seize the funds, which are held in 29 accounts around the world, and return them to investors.

The forfeiture proceedings followed Stanford's conviction in federal court in Houston on Tuesday of running a $7 billion Ponzi scheme.

During a six-week trial, prosecutors said Stanford stole the deposits of investors in Stanford International Bank in Antigua to fund a lavish lifestyle of girlfriends, mansions, private jets and yachts.

Thursday's verdict, delivered by the same jury that found him guilty in the criminal case, kicks off what is likely to be a long process for investors hoping to recover lost money.

Receiver Ralph Janvey is pursuing funds for investors in the United States. There are also two receivers in Antigua who are pursuing the same foreign bank accounts that the U.S. government would like to seize.

Janvey has just $113 million cash on hand, so the $330 million in foreign accounts could be the largest amount available to Stanford investors.

(Reporting by Anna Driver; Editing by Matthew Lewis)