Trial Of Stanford Execs Lopez And Kuhrt Begins

The trial of Stanford Financial Group executives Gilberto Lopez and Mark Kuhrt is set to begin this morning at Houston's federal courthouse. They're charged with supporting a Ponzi scheme that cost investors more than $7 billion.

Lopez and Kuhrt stand accused of falsifying accounting statements and bribing financial regulators in Antigua, where Stanford International Bank was based. Both men’s alleged roles in the Ponzi scheme came up repeatedly in R. Allen Stanford’s trial earlier this year. Sandra Thompson heads the Criminal Justice Institute at the University of Houston Law Center.

“The fact that Stanford has already been convicted and received 110 years in prison is not good news for any subsequent defendants.”

Stanford was found guilty of masterminding the $7 billion Ponzi scheme in March. He’s now serving his sentence at the Coleman Federal Correctional Complex in central Florida.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...