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Judge Postpones Trial For Accused U.S. Financier Stanford By Lanbo Jiang

  in Business | Published 2012-04-18 02:10:14 | 150 Reads | Unrated

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A U.S. federal judge on Thursday postponed the trial for Allen Stanford because the accused U.S. financier is not competent for the trial.

U.S. District Judge David Hittner made the ruling Thursday evening after hearing testimonies from psychiatrists who said Stanford took too many anti-anxiety and anti-depression drugs and is incompetent to stand the trial, which had been scheduled to begin on Jan. 24.

The judge said no trial date could be set until all of Stanford's medical issues are cleared. Stanford's lawyers had asked a 2-year delay of the trial. Prosecutors
said a trial delay is OK, but said two years is unreasonable.

In Thursday's day-long hearing, Stanford's three psychiatrists highlighted Stanford's dependency on prescription anti-anxiety medication and the after-effects of a brain injury Stanford sustained in a jail fight in 2009.

The psychiatrists said the brain injury and dependency on anti-anxiety drugs have left Stanford unable think clearly or help with his defense.

Stanford also has had other health problems, including problems with his heart rate, since being put in jail in June 2009.

Stanford and three ex-executives of his now defunct Houston-based Stanford Financial Group are accused of bilking investors out of 7 billion U.S. dollars in a Ponzi scheme.

The 60-year-old Texan is now jailed in the Houston area awaiting trial on fraud, conspiracy and obstruction charges. If convicted, he could face life in prison.

A U.S. federal judge on Thursday postponed the trial for Allen Stanford because the accused U.S. financier is not competent for the trial.

U.S. District Judge David Hittner made the ruling Thursday evening after hearing testimonies from psychiatrists who said Stanford took too many anti-anxiety and anti-depression drugs and is incompetent to stand the trial, which had been scheduled to begin on Jan. 24.

The judge said no trial date could be set until all of Stanford's medical issues are cleared. Stanford's lawyers had asked a 2-year delay of the trial. Prosecutors said a trial delay is OK, but said two years is unreasonable.

In Thursday's day-long hearing, Stanford's three psychiatrists highlighted Stanford's dependency on prescription anti-anxiety medication and the after-effects of a brain injury Stanford sustained in a jail fight in 2009.

The psychiatrists said the brain injury and dependency on anti-anxiety drugs have left Stanford unable think clearly or help with his defense.

Stanford also has had other health problems, including problems with his heart rate, since being put in jail in June 2009.

Stanford and three ex-executives of his now defunct Houston-based Stanford Financial Group are accused of bilking investors out of 7 billion U.S. dollars in a Ponzi scheme.

The 60-year-old Texan is now jailed in the Houston area awaiting trial on fraud, conspiracy and obstruction charges. If convicted, he could face life in prison.

A U.S. federal judge on Thursday postponed the trial for Allen Stanford because the accused U.S. financier is not competent for the trial.

U.S. District Judge David Hittner made the ruling Thursday evening after hearing testimonies from psychiatrists who said Stanford took too many anti-anxiety and anti-depression drugs and is incompetent to stand the trial, which had been scheduled to begin on Jan. 24.

The judge said no trial date could be set until all of Stanford's medical issues are cleared. Stanford's lawyers had asked a 2-year delay of the trial. Prosecutors said a trial delay is OK, but said two years is unreasonable.

In Thursday's day-long hearing, Stanford's three psychiatrists highlighted Stanford's dependency on prescription anti-anxiety medication and the after-effects of a brain injury Stanford sustained in a jail fight in 2009.

The psychiatrists said the brain injury and dependency on anti-anxiety drugs have left Stanford unable think clearly or help with his defense.

Stanford also has had other health problems, including problems with his heart rate, since being put in jail in June 2009.

Stanford and three ex-executives of his now defunct Houston-based Stanford Financial Group are accused of bilking investors out of 7 billion U.S. dollars in a Ponzi scheme.

The 60-year-old Texan is now jailed in the Houston area awaiting trial on fraud, conspiracy and obstruction charges. If convicted, he could face life in prison.

A U.S. federal judge on Thursday postponed the trial for Allen Stanford because the accused U.S. financier is not competent for the trial.

U.S. District Judge David Hittner made the ruling Thursday evening after hearing testimonies from psychiatrists who said Stanford took too many anti-anxiety and anti-depression drugs and is incompetent to stand the trial, which had been scheduled to begin on Jan. 24.

The judge said no trial date could be set until all of Stanford's medical issues are cleared. Stanford's lawyers had asked a 2-year delay of the trial. Prosecutors said a trial delay is OK, but said two years is unreasonable.

In Thursday's day-long hearing, Stanford's three psychiatrists highlighted Stanford's dependency on prescription anti-anxiety medication and the after-effects of a brain injury Stanford sustained in a jail fight in 2009.

The psychiatrists said the brain injury and dependency on anti-anxiety drugs have left Stanford unable think clearly or help with his defense.

Stanford also has had other health problems, including problems with his heart rate, since being put in jail in June 2009.

Stanford and three ex-executives of his now defunct Houston-based Stanford Financial Group are accused of bilking investors out of 7 billion U.S. dollars in a Ponzi scheme.

The 60-year-old Texan is now jailed in the Houston area awaiting trial on fraud, conspiracy and obstruction charges. If convicted, he could face life in prison.

21pbn

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