ANALYSIS-Criminal case is high-stakes battle for Stanford

* Financier faces up to 250 years in prison if convicted

* Role of ex-financial chief seen key to government case

* Legal experts say Stanford's media blitz was risky

By Martha Graybow

NEW YORK, June 19 (Reuters) - For months, Texas tycoon Allen Stanford has vowed to fight accusations his financial empire was a vast fraud. But the stakes have gotten much higher now that he has been hit with criminal charges that could land him in prison for life if he is convicted.

The financier proclaimed his innocence through his lawyer again on Friday, after being indicted on charges of fraud, conspiracy and obstruction. Prosecutors say he ran a $7 billion swindle at Stanford Financial Group that bilked investors throughout the United States and Latin America. [nN19424154]

Stanford, who already faces civil fraud charges, is confident a jury will find him not guilty of any crime, his lawyer said. A trial could be at least a year away, given the complexities of big business fraud cases, legal experts say.

The key to the government's case could be help from one of Stanford's chief lieutenants and former college roommate, ex-Chief Financial Officer James Davis.

Davis was charged with conspiracy on Friday in a separate legal document typically used when a defendant has decided to plead guilty.