Stanford To Stay Behind Bars Until Trial, Judge Rules

Law360, New York (July 9, 2009, 12:00 AM EDT) -- Texas financier Robert Allen Stanford must remain in jail pending a trial on charges he swindled investors in a $7 billion Ponzi scheme, a federal judge has ruled.

Stanford had urged Judge David Hittner of the U.S. District Court for the Southern District of Texas on Monday to reconsider an order revoking his bail, but the judge refused the request on Thursday without a hearing.

“Having considered the motion and the applicable law, the court determines that the motion should be denied,’’ Judge Hittner said....
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