Allen Stanford smiles as he waits to enter the Federal Courthouse where the jury is deliberating in his criminal trial in Houston
Allen Stanford smiles as he waits to enter the Federal Courthouse where the jury is deliberating in his criminal trial in Houston March 6, 2012. REUTERS

Allen Stanford was found guilty of conspiracy and fraud charges by a federal jury on Tuesday for leading a $7 billion Ponzi scheme from his offshore bank in Antigua.

A jury of eight men and four women found Stanford, whose net worth was once estimated at more than $2 billion, guilty on 13 counts of a 14-count criminal indictment.

(Reporting By Anna Driver and Eileen O'Grady)