Large Map
  • Ponzi scheme
SEC probed companies, red flags copious
SEC probed companies, red flags copious

For years, there were red flags about Texas billionaire …

Billionaire Stanford pleads not guilty
Billionaire Stanford pleads not guilty

Texas billionaire R. Allen Stanford has pleaded not guilty to …

Billionaire Stanford, 4 others indicted

Texas billionaire R. Allen Stanford, whose sprawling banking empire collapsed this year, …

Filing: Stanford books a tangled mess

A filing by a court-appointed receiver said companies owned by Texas billionaire R. Allen…

Stanford accounts unfrozen by judge

A federal judge lifted a freeze on about 12,000 investor accounts with Texas billionaire …

Stanford asking for $10M for defense

Attorneys for Texas billionaire R. Allen Stanford asked a judge to release $10 million so…

Advertisement

Judge to rule whether Stanford is free

Stanford may be out on bond as he awaits trial

Updated: Tuesday, 30 Jun 2009, 1:56 PM CDT
Published : Tuesday, 30 Jun 2009, 1:56 PM CDT

HOUSTON (AP) - A judge is expected to rule Tuesday whether Texas financier R. Allen Stanford will be free on bond while he awaits trial on charges he swindled investors out of $7 billion.

Prosecutors want U.S. District Judge David Hittner to revoke Stanford's $500,000 bond and keep him in jail. Stanford has been in custody since being indicted June 18.

Hittner is expected to rule today on the fate of Stanford's bond, granted last week. Hittner listened to arguments during a four-hour court hearing Monday.

A prosecutor argued Stanford's international ties make him a serious flight risk and differentiate him from other high-profile fraud defendants, including former Enron Corp. executives Jeffrey Skilling and Ken Lay, who were freed on bond before their trials.

Stanford's attorney said his client, who is broke because all his assets have been seized, has a good reason not to flee.

Advertisement
Advertisement

Site Tools