FARGO (AP) - Federal jurors have found former Minot commodities broker Frederick Keiser Jr. guilty in a scheme to defraud investors of millions of dollars.

Keiser, 63, was silent as the verdict was read Friday afternoon.

He faced 22 counts, including 10 counts of wire fraud, nine counts of money laundering, two counts of conspiracy to commit money laundering and one count of conspiracy to defraud the United States.

Federal prosecutors said Keiser stole nearly $2 million from 200 investors in two bank programs that promised high returns risk-free.

The jury of eight women and four men began deliberations Thursday afternoon, meeting for two hours before leaving for the day. They returned Friday and deliberated until early afternoon.

Keiser defended himself during the trial that started March 5, saying he was a victim in the schemes and never intended to defraud anyone.

"Investors ultimately made their own decisions on whether to get involved," he said. "I'm not denying what I did. I'm denying knowing what I did was wrong."

Prosecutors said Keiser knew exactly what he was doing.

"Don't be fooled by Mr. Keiser," Assistant U.S. Attorney Jennifer Puhl told jurors.

A sentencing date was not immediately set. Keiser faces a second trial involving forfeiture of property.

Court documents say the government wants Keiser to forfeit more than $3.8 million,the amount prosecutors claim can be traced to one fraud scheme. Keiser is contesting the amount.

Puhl said some victims in the scheme took out second mortgages on their homes while Keiser bought land and jewelry with their money.

Witnesses during the trial said Keiser and others used a network of international bank accounts to bilk more than $16 million from investors. Gary Keller, a special investigator for the Internal Revenue Service, said he tracked money from the accounts to Keiser through a trail of bank statements and wire transfers.

Keiser, who denounced his U.S. citizenship and did not pay taxes from 2000 to 2005, also used some of the money to pay a $500,000 restitution settlement with the North Dakota Securities Department, which sanctioned Keiser for one of the schemes, Keller said.