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This is an archive article published on January 6, 2010

Allen Stanford appeals bail decision

Stanford,59,was first deemed a flight risk and denied bail by Hittner in June last year.

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Allen Stanford8217;s lawyers on Tuesday asked an appeals court for the second time to review a judge8217;s decision denying the accused swindler bail.

Last month,US District Judge David Hittner in Houston issued an order denying pleas from Stanford8217;s lawyers and family that he be released from jail due to his deteriorating mental and physical health.

Stanford,59,was first deemed a flight risk and denied bail by Hittner in June last year. The judge8217;s initial decision was appealed and upheld by the United States Court of Appeals for the Fifth Circuit in New Orleans.

Stanford is in a federal detention center in Houston awaiting his January 2011 trial.

The Texas financier surrendered to authorities on June 18 after prosecutors charged him with leading a 7 billion Ponzi scheme centered on certificates of deposit issued by his offshore bank in Antigua.

Stanford8217;s lawyers,Kent Schaffer and George Secrest,filed the latest appeal with the appellate court in New Orleans,court documents showed.

The case is USA v. Stanford,US District Court,Southern District of Texas,No. 4:09-cr-00342.

 

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