HOUSTON (AP) - Texas billionaire R. Allen Stanford has pleaded
not guilty to charges he swindled investors out of $7 billion as
part of a massive investment scam.
Stanford entered his plea during his arraignment in federal
court in Houston on Thursday. The financier was indicted last week
by a grand jury on charges that his international banking empire
was really just a colossal Ponzi scheme.
Laura Pendergest-Holt, Gilberto Lopez and Mark Kuhrt, three
Stanford Financial Group executives who were indicted along with
their former boss, also entered not guilty pleas during the court
U.S. Magistrate Judge Frances Stacy's decision on whether to
grant a bond for Stanford was expected later in the day. Stanford
has been in federal custody since he was arrested in Virginia on
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.