Judge Rules Stanford Must Await Trial In Jail

Law360, New York (June 30, 2009, 12:00 AM EDT) -- A federal judge has ruled that billionaire financier Robert Allen Stanford must stay in jail until he stands trial for allegedly running a $7 billion Ponzi scheme, reversing an order last week that granted Stanford release on a $500,000 bail.

Judge David Hittner of the U.S. District Court for the Southern District of Texas ruled Tuesday that Stanford would be likely to flee the country if released.

Last Thursday, Magistrate Judge Frances Stacy ruled that Stanford could post bail, but stayed the order while prosecutors asked...
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