VOL. 124 | NO. 126 | Tuesday, June 30, 2009
Judge to Decide Tuesday on Stanford's Bond
JUAN A. LOZANO | Associated Press Writer
HOUSTON (AP) - A federal judge says he will decide by Tuesday afternoon on whether to revoke a bond for Texas financier R. Allen Stanford that would let him be free while he awaits trial on charges he swindled investors out of $7 billion.
U.S. District Judge David Hittner heard more than four hours of arguments Monday in which prosecutors asked him to revoke an order granting Stanford a $500,000 bond. They argued his international ties make him a serious flight risk.
But Dick DeGuerin, Stanford's attorney, says his client, who is broke because all his assets have been seized, has a very strong incentive to stay: to clear his name and restore his finances.
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