Stanford Co-Conspirators Get 20 Years

Feb 19 2013 | 9:01am ET

Two former top executives at R. Allen Stanford's fraudulent financial empire received long terms in prison last week for their role in the $7 billion Ponzi scheme.

Gilbert Lopez and Mark Kuhrt were each sentenced to 20 years in prison. The two, the last defendants in the Stanford case to be sentenced, were convicted of wire fraud and conspiracy in November.

The sentences for Lopez, Stanford Financial Group's former chief accounting officer, and Kuhrt, its former controller, were the longest levied in the case except against Stanford himself, who was sentenced to 110 years in prison. Former chief investment officer Laura Pendergast-Holt received three years and former CFO James Davis five years. Both cooperated with the authorities in the case.

Prosecutors accused Lopez and Kuhrt of knowing that Stanford was misappropriating his bank's assets and helping him cover it up.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...