Stanford Found Fit To Stand Trial For $7B Ponzi Scheme

Law360, New York (December 22, 2011, 5:05 PM EST) -- A Texas federal judge on Thursday ruled that R. Allen Stanford was fit to stand trial on charges that he masterminded a long-running Ponzi scheme that bilked investors of around $7 billion.

U.S. District Judge David Hittner reversed a January ruling that Stanford was not competent to stand trial following an eight-month evaluation at a North Carolina prison medical center and a three-day competency hearing that opened Tuesday.

“Based upon the exhibits and testimony admitted at the hearing, the court determines, by a preponderance of the...
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