Financier Allen Stanford faces up to 20 years in prison after being found guilty of orchestrating a $7bn Ponzi scheme.
After a six-week trial in Houston, Texas, a jury found him guilty of conspiracy and 12 other criminal charges including obstruction. He was acquitted of one wire fraud charge.
Prosecutors argued Stanford - dubbed "the chief faker" by his former chief financial officer during proceedings - used his clients' money to fuel his "lavish lifestyle" and "loser companies" in a massive Ponzi scheme.
Investors were encouraged - successfully - to buy certificates of deposit (CDs) from his bank on the Caribbean island nation of Antigua, telling them they were a safe investment.
Instead the bank was "his own personal ATM", prosecutor William Stellmach said.
By 2008 Stanford's bank owed depositors more than $7bn that it did not have. Stanford had spent a share of that money on luxury yachts, private jets and cricket sponsorship.
During the trial, Stanford's attorneys argued the bank would be solvent today if the US government had not shut it down in February 2009.
Challenging parliamentary arithmetic
Industry Voice: This year has seen investment management charges come under the spotlight.
Tavistock plans fundraising
An ambitious objective