Judge rules financier Stanford competent to stand trial

Allen Stanford

Credit: WFAA

Allen Stanford is charged with stealing more than $7 billion.

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by JUAN A. LOZANO

Associated Press

Posted on December 22, 2011 at 4:08 PM

HOUSTON (AP) -- Judge rules R. Allen Stanford competent to stand trial for $7 billion Ponzi scheme.

Her court hearing on whether jailed Texas financier R. Allen Stanford is competent to stand trial was briefly delayed after attorneys told a judge that prison officials had concerns over whether Stanford is suicidal.

The competency hearing resumed Thursday before U.S. District Judge David Hittner. Stanford is accused of bilking investors out of $7 billion in a Ponzi scheme.

Hittner started by saying that Stanford on Wednesday evening was evaluated at the Houston federal detention center after one of the financier's medical experts had testified he thought at one time Stanford might be suicidal.

A prison official says doctors determined Stanford is not suicidal but will continue to evaluate him.

 

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