Day 1: Stanford Competency Hearing

R. Allen Stanford is back in a Houston courtroom. Stanford faces fourteen charges stemming from his alleged masterminding of a $7 billion Ponzi scheme. Today marks the start of a three day hearing to determine whether the financier is mentally competent to stand trial.

The prosecution opened its case calling as a witness Dr. Robert Cochrane, the forensic psychologist at the North Carolina federal prison where Stanford spent more than eight months undergoing addiction treatment and medical and psychological testing.

Cochrane testified that Stanford had issues that might require accommodation during an extended trial. He suffers from insomnia and fatigue, as well as a variety of serious illnesses — including hepatitis B, cirrhosis of the liver, and heart ailments.

But on the main defense point, that Stanford was rendered mentally incapable of assisting in his own defense, Cochrane was adamant. He said it was highly unlikely the blunt head trauma Stanford suffered in a jailhouse assault could have caused the near total amnesia of events prior to the beating Stanford claimed.

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...