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R. Allen Stanford, who was convicted of running a $7 billion Ponzi scheme, will not get the new trial he requested this week.
On March 20, Stanford filed for a new trial with the Houston District Court, claiming he lacked adequate time to prepare his defense and the "media circus" surrounding the trial impaired his case.
U.S. District Judge David Hittner issued a one-sentence ruling March 22, denying the motion for a new trial without...
Lawyers for convicted $7bn fraudster had cited courtroom tweets from journalists, lack of time and prejudicial pretrial publicityThe financier Allen Stanford has lost his bid for a new trial, 16 days after being convicted for running an estimated $7bn (£4.4bn) Ponzi scheme.US district judge David Hittner in Houston turned down Stanford's request for a retrial in a brief order on Thursday, without explaining his reasons.Stanford, who turns 62...
For those of us who follow financial fraud issues closely, the prosecution of R. Allen Stanford has provided a steady dose of craziness since his world began to unravel in 2009. The latest development in that case -- Stanford blaming his conviction on Twitter -- would be extraordinary in most any other context, but in the Stanford case it is merely par for the course. Let's recap: At the beginning of 2009, Stanford was a billionaire on top of...
Two law firms accused of negligently employing a lawyer who advised convicted financier R. Allen Stanford suffered a setback in an appellate ruling on Monday. The New Orleans-based 5th U.S. Circuit Court of Appeals ruled (PDF) that state investor class actions weren’t barred by a federal law designed to curb nuisance litigation in state courts over federal securities, report Reuters and the Daily Business Review. The suits claim Proskauer Rose...
Lawyers for Allen Stanford have failed in an effort to win a new trial for the convicted fraudster, who they claimed was robbed of a fair trial because the press were allowed to send Twitter messages from court.
Since the 1970s it has mostly been this way. In a desperate attempt to appease the poorly paid, disenchanted players, the West Indies board got into bed with Allen Stanford, and we all know how that relationship ended. Soon afterwards the IPL came calling.
R. Allen Stanford’s court appointed receiver asked a U.S. judge to increase the amount of money he and his team of professionals can get for marshaling and liquidating the financier’s assets. Dallas lawyer Ralph Janvey and his counsel made ...
Andrea Stoelker is Sir Robert Allen Stanford's girlfriend, who is currently being charged with fraud and multiple violations of U.S. securities laws by the SEC. Not only that, but Stanford is still married. Stoekler apparently stands by her man, and the two are still seeing each other. Check back for more news on Andrea Stoelker.
Stanford Financial chairman and CEO Sir Robert Allen Stanford gestures as he leaves the Bob Casey Federal Courthouse after a bond hearing June 26, 2009 in Houston, Texas. U. S. District Judge David Hittner stayed the bond order of a magistrate judge that would release Stanford who has been indicted on 21 counts of conspiracy, wire fraud, mail fraud and obstruction of justice, and conspiracy to launder money in a $7 billion fraud involving certificates of deposit issued by his offshore bank in Antigua. (Getty Images)more pics » Sir Robert Allen Stanford KCN (born March 24, 1950) is a prominent financier, philanthropist, and sponsor of professional sports. A fifth-generation Texan who resides in St. Croix, US Virgin Islands, he holds dual citizenship, having become a citizen of Antigua and Barbuda. Stanford was the first American to be knighted by that Commonwealth nation[2] and was presented with the honour by the then Governor-General of Antigua and Barbuda, Sir James Carlisle.
In early 2009, Stanford became the subject of several fraud investigations, and on February 17, 2009, was charged by the SEC with fraud and multiple violations of U.S. securities laws for alleged "massive ongoing fraud" involving $8 billion in certificates of deposits.[3][4] The FBI raided three of Stanford's offices in Houston, Memphis, and Tupelo, Mississippi.