Friday, December 23, 2011

Financier in Fraud Case Is Declared Fit for Trial

Now that a judge has ruled accused Ponzi mastermind R. Allen Stanford competent to stand trial, his defense team has moved on to plan "B": a bid to delay the trial by three months.

Stanford's lead court-appointed attorney, Ali Fazel, told CNBC he thought his side had put on a convincing case that Stanford was unable to assist in his own defense, but U.S. District Judge David Hittner disagreed following a two-and-a-half day hearing in Houston.

The defense called four doctors to say Stanford had suffered traumatic brain injuries in a 2009 jailhouse assault, and suffered amnesia. The evidence included video taken immediately after the assault that showed Stanford could not even remember his own name. Prosecutors claimed Stanford recovered from his injuries, and a prison psychologist testified Stanford was faking amnesia.

But even before the hearing began on Tuesday, the defense team was ready with a fallback plan: a motion filed this week to delay the trial until late April if Stanford was found to be competent….

More? Check out http://www.cnbc.com/id/45769795

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