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Allen Stanford Guilty of $7 Billion Fraud: Hot Trends

Stocks in this article: F TAP

NEW YORK ( TheStreet) -- Popular searches on the Internet Wednesday include Allen Stanford after the Texas financier was found guilty of leading a $7 billion fraud.

Stanford was convicted Tuesday on 13 of 14 charges including wire fraud and mail fraud. Stanford's co-lead defense counsel said they expect to appeal.

Stanford has been held in prison since June 2009.

The jury will continue to hear evidence Wednesday to decide how much money Stanford must forfeit now that he has been found guilty. Prosecutors are looking for him to give up $300 million in assets. In order to force Stanford to give up his assets, the jury must find they were obtained with criminal proceeds.






Alan Mulally is also trending as Ford's (F) CEO has received a $34.5 million bonus as shares granted two years ago vested this week.

Mulally was given 4.8 million stock units for his performance in 2009, the year Ford posted its first annual profit in four years. Ford withheld 1.9 million shares for taxes. The remaining 2.85 million units were converted to shares worth $34.5 million at Tuesday's closing stock price of $12.09.

While this was disclosed in a regulatory filing, Mulally's salary for 2011 and other compensation will be revealed later in the year. Mulally also received 376,000 stock units for his 2011 performance that will convert to shares in 2014 and 1.2 million stock options that will fully vest in three years.

While Mulally is given credit for turning around the automaker, he is also criticized for his high pay. Ford factory workers noted the CEO's pay when they rejected contract changes in fall 2011. Ford defends Mulally's pay, saying it is tied to the shares' success.






Molson Coors (TAP) is another popular search.

The brewing company announced it is launching new beers and products in attempt to drive sales. Molson Coors is coming out with Coors Light Iced Tea, which will go on sale first in April in Canada, where Molson said consumers are especially interested in flavored beers.

Molson said it will focus on emerging markets like China, Russia, India and Ukraine and hopes to accelerate growth in beers including Coors Light, Carling and Cobra.






The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.

-- Written by Brittany Umar.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

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