Jury selection to continue in Stanford fraud trial

January 23, 2012 - 8:35 PM

HOUSTON (AP) — Jury selection has ended for the day in the oft-delayed trial of jailed Texas financier R. Allen Stanford, who is accused of bilking investors out of $7 billion in a vast Ponzi scheme.

A federal judge spent Monday questioning 80 potential jurors.

The judge said more time was needed and jury selection would resume Tuesday.

Opening statements are expected to start Tuesday afternoon.

Stanford's attorneys have said they expect him to testify.

Stanford was indicted more than 2½ years ago, but his trial was delayed while he was treated at a prison hospital for an addiction to an anti-anxiety drug.

Prosecutors say Stanford funded a lavish lifestyle with the money of investors. His financial empire stretched from the U.S. to Latin America and the Caribbean.

He denies wrongdoing.