Houston News
Judge delays Stanford's release on bond
02:24 PM CDT on Friday, June 26, 2009
HOUSTON -- A federal judge has delayed releasing Texas billionaire R. Allen Stanford on bond until he can review a decision to allow the accused financier to be free until he is tried on charges he swindled investors out of $7 billion.
U.S. District Judge David Hittner granted a prosecution request Friday to delay a magistrate’s order a day earlier that granted Stanford a $500,000 bond.
Hittner ordered a hearing be held on Monday to listen to arguments on whether Stanford’s bond should be revoked.
Prosecutors argue Stanford, who has ties to Antigua and access to money, is a flight risk. But his defense attorney says those claims are overexaggerated and his client doesn’t want to flee but stay and clear his name.
|
|
More Houston Headlines...
Most Viewed Stories
Below is a list of the most popular stories read by our subscribers this week.
Lottery decision disappoints Grand Prairie man
TV: 3-foot ordinance goes into effect Monday
What to do if your car goes underwater
New football helmet designed to reduce concussion effects
Officials seize Bentley, Maserati, jewelry in gang-related drug bust




