Jury rules Stanford must forfeit $330m Allen Stanford, the convicted bank executive, must forfeit $330m held in offshore accounts, a jury ruled, paving the way for payments to thousands of victims of the $7bn Ponzi scheme operated through an Antiguan bank. The jury of eight men and four women issued its decision two days after convicting Mr Stanford on 13 of 14 counts of fraud, money laundering, and obstructing a Securities and Exchange Commission investigation. He faces decades in prison. The judge set a sentencing date of June 14. Prosecutors said Mr Stanford stashed customer money in bank accounts in Switzerland, Canada and the UK for his own use. Another account, dubbed the "Baby Mama Trust," was located in the Cook Islands and included proceeds from sales of properties tied to one of Mr Stanford's girlfriends who had his children out of wedlock. Prosecutors said Mr Stanford used customer money to buy those properties. The decision begins what could be a lengthy legal process for recovering money for thousands of victims of the Ponzi scheme that ran for two decades. No investor has recovered money since Mr Stanford's June 2009 arrest. It could take months before any distributions are made. Following Mr Stanford's conviction, authorities will turn their attention to other individuals that were allegedly involved in the fraud. Three former Stanford employees are set to go to trial for their alleged roles in the scheme later this year. A former Antiguan regulator has also been charged and is under house arrest on the island. The US is seeking extradition. All four have denied wrongdoing. Prosecutors continue to investigate other ties to the fraud. The Department of Justice is investigating whether Société Générale, the French bank, performed adequate due diligence over the Stanford accounts or were active participants to the fraud, people familiar with the matter say. Société Générale has said it is cooperating with the investigation. "In cases like this, prosecutors and investigators will always be looking into the conduct of bank officials, legal advisers and any financial institutions that may be perceived to have facilitated the fraud," said Paul Pelletier, a lawyer at Mintz Levin and former DoJ prosecutor previously involved in the Stanford investigation. The SEC has warned several former Stanford brokers, including Danny Bogar, former president of Stanford International Bank's brokerage operations, that they may face civil fraud charges. No charges have been levied to date and lawyers for the men, including Mr Bogar, have denied any wrongdoing. Mr Bogar is related to James Davis, the former chief financial officer of Stanford's bank. Mr Davis pleaded guilty and testified against Mr Stanford.