U.S. District Judge David Hittner in Houston ruled that Allen Stanford must stay in jail until his fraud trial, according to Reuters. Stanford, accused of leading a $7 billion fraud involving certificates of deposit issued by his Antigua bank, has been in federal custody since his arrest in Virginia on June 18. “We’re disappointed with the decision,” Robert Luskin, a Washington attorney who filed the appeal on Stanford’s behalf, said in an email. “Allen Stanford deserves to be released and needs to be released in order to effectively assist in his own defense.” No trial date has been set yet. Stanford’s criminal attorney, Dick DeGuerin, has asked to withdraw from the case because, among other reasons, he has yet to be paid.
Allen Stanford Will Stay in Jail During Fraud Trial
Allen Stanford has been ordered to stay in prison during his fraud trial.
August 24, 2009