Stanford used CD funds for cricket, jets: witness

Henry Amadio, a former accountant for Stanford in Houston, told jurors he created a top-secret report for Stanford tracking the flow of $2 billion from Stanford International Bank in Antigua to other entities he controlled. The funds were spent by Stanford over a number of years leading up to 2009, when the government seized the businesses.

There's no doubt that those amounts came from Stanford International Bank," Amadio told the jury of five women and 10 men. He compiled the reports using wire transfer records provided by Stanford's treasurers, he said.

The funds, marked as loans at the offshore bank, were never repaid by Stanford, the accountant said.

Millions of dollars of deposits were also spent on Stanford's passion to promote the sport of cricket in the Caribbean, he said.