Allen Stanford Loses Bid to Delay His Fraud Trial in January
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R. Allen Stanford lost his bid for more time to prepare to face charges he led a $7 billion investment fraud scheme. Jury selection will begin in Houston federal court on Jan. 23.
“This case needs to be tried,” U.S. District Judge David Hittner said in an eight-page ruling yesterday. “This trial will decide not just whether Stanford is guilty of the criminal charges, but also whether hundreds of millions of dollars of investor funds currently frozen may be forfeited and returned to his alleged victims.”