KBTX | Bryan & College Station, TX | Aggieland News

Prosecutors Say Texas Billionaire and Accused Scammer Want Bond Revoked

HOUSTON (AP) - Prosecutors say Texas financier R. Allen
Stanford's bond should be revoked because his international ties
make him a serious flight risk.
Prosecutors asked a federal judge Monday to revoke an order
granting Stanford a $500,000 bond pending his trial on charges that
he swindled investors out of $7 billion.
Prosecutor Gregg Costa said that unlike defendants in other high
profile fraud cases who were released on bond, including former
Enron Corp. executives Jeffrey Skilling and Ken Lay, Stanford holds
dual U.S. and Antiguan citizenship and and his primary home is
outside the United States.
But Dick DeGuerin, Stanford's attorney, says his client is now
living in Houston and plans to fight the charges against him.


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