Font Size: 
Judge to Decide Today on Bond for Texas Billionaire
The Associated Press
June 30, 2009
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.
Copyright 2009 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.
