A northeast Texas jury found former ACU student Brandon Woodruff, 22, guilty of capital murder Friday and sentenced him to life in prison.

The jury, which deliberated for five hours, found Woodruff killed his parents, Dennis and Norma Woodruff, in their Royse City home in October 2005, according to the Associated Press.

Adrienne McFarland, special prosecutor from the Texas attorney general’s office, said prior to the killing, Woodruff had reached limits on all his credit cards and was planning to drop out of his freshman classes at ACU and tell his parents he was gay. At the time, his parents were struggling with heavy debt. McFarland argued Woodruff murdered his parents to gain an insurance settlement, according to the AP.

Katherine Ferguson, defense attorney for Woodruff, argued toll road and cell phone records showed Woodruff did not have time to commit the murders.

Woodruff said he is innocent and will appeal, according to the AP.