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Wednesday, July 7

Allen Stanford Loses Bid for Bail Before Fraud Trial - BusinessWeek

HOUSTON - JUNE 24:  Stanford Financial chairma...Image by Getty Images via @daylife
BusinessWeek: "July 7 (Bloomberg) -- R. Allen Stanford, the Texas financier accused U.S. of leading a $7 billion investment-fraud scheme, lost another bid for pre-trial release.

U.S. District Judge David Hittner in Houston today denied Stanford’s request for bail for the third time, rejecting arguments that the 19 months he will spend in jail before his January trial add up to a violation of his constitutional rights and that he can’t adequately ready his case while locked up.
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