The former chief financial officer of Stanford International Bank pleaded guilty on Thursday to charges stemming from an alleged $7 billion fraud.
James Davis, who has been cooperating with federal prosecutors, entered the plea in federal court in Houston.
He faces a maximum of 30 years in prison on the conspiracy, fraud and obstruction charges.
Source: http://www.reuters.com/article/ousiv/idUSN2730704720090827
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