Delay in Stanford Trial

A judge has again delayed the trial of jailed Houston financier R. Allen Stanford. Andrew Schneider reports.

U.S. District Judge David Hittner has moved the start date for Stanford’s trial from September 12 to January of next year. Doctors treating Stanford say he still not competent to stand trial.

Stanford’s case had been scheduled to begin on January 24, but he was declared incompetent to stand trial due to an anti-anxiety drug addiction he developed while jailed in Houston. For the past four months, he’s been undergoing treatment in a federal prison hospital in Butner, NC.

The former financier, whose Stanford Financial Group had been headquartered in the Galleria area, is accused of bilking investors out of $7 billion in a massive Ponzi scheme. His attorneys say he ran a legitimate business.

Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...