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Financier Allen Stanford Sentenced to 110 years

The sentencing hearing for Financier Allen Stanford just concluded. The Government sought 230 years. The judge imposed 110 years. He was ordered to forfeit $5.9 billion. Stanford addressed the court. Via Twitter:

"If I live the rest of my life in prison...I will always be at peace with the way I conducted myself in business."

The AUSA:

"230 years will not get anyone their money back...but on sleepless nights" they will know he got the maximum. "

Stanford has been in jail since July, 2009. He has not had an easy time. In 2009, he was assaulted at the Joe Corley Correction Center, and sustained brain damage and the loss of reading ability in his right eye. After surgery, they over-medicated him to the point the Judge declared him incompetent to proceed to trial. [More...]

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Financier Allen Stanford Found Incompetent to Stand Trial

A federal judge today ruled financier Allen Stanford is incompetent to stand trial due to his inability to assist his lawyers in his own defense.

Several of the news reports on the ruling highlight the judge's finding that Stanford is addicted to drugs he has been given at the federal detention center and need to withdraw from them. A review of the pleadings and court orders in the case (available on PACER, and which I've been following for a few months) tell a much more complex story.

Stanford didn't take these drugs prior to being detained pending trial. He was viciously assaulted in pre-trial detention and sustained brain injuries. Then he was given the medication. Only by withdrawing from them can doctors now determine whether his cognitive deficits are the result of the drugs or the traumatic brain injury he sustained when assaulted. .[More...]

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Luskin to Represent Financier Allen Stanford

Robert Luskin, best known on the blogs for his representation of Karl Rove, is taking over the defense of financier Allen Stanford in his criminal case in Houston. Dick DeGuerin has moved to withdraw, citing lack of assurances the court or receivers will authorize the release of necessary funds for his representation.

Stanford is being held in what DeGuerin called "oppressive conditons" in a private jail (The Joe Corley Detention Facility in Conroe, Texas). His motion to have Stanford moved said Stanford is in a single cell with 8 to 10 other inmates, the temperature is over 100 degrees, and sometimes they have been held for hours in total darkness due to electricity going out. He asked that Stanford be moved to a BOP facility but the Judge denied the request.

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Judge Overturns Allen Stanford's Bail Order

U.S. District Court Judge David Hittner today reversed the magistrate court judge's order granting bail to indicted financier Allen Stanford. (Background here and here.)

Stanford's lawyers say they will appeal to the 5th Circuit.

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Judge Orders Bond for Allen Stanford

A federal judge in Houston today rejected the Government's motion for pre-trial detention and ordered financier Allen Stanford released on bond. The order was stayed until Friday so the Government can appeal.

"There are no conditions that will guarantee this defendant's appearance in court," Pelletier said. "This case demands pretrial detention."

That's not the test. The standard is whether there are conditions that will "reasonably assure" not guarantee a defendant's appearance.

Dick DeGuerin, Stanford's lawyer, told the court the feds seized everything from him, including his underwear [More...]:

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Financier Allen Stanford Held Without Bond Pending Detention Hearing

Billionaire financier Allen Stamford has been under investigation for months and represented by Dick DeGuerin of Houston, one of the country's best criminal defense lawyers. Yesterday, the Government chose to unseal the indictment against him, while he was in Virginia. The FBI knew exactly where he was -- at his girlfriend's home -- and arrested him there.

Today, Stanford appeared in court in Virginia and the Government announced it was seeking detention. The court ordered him held without bond until his detention hearing, which will be in Houston.

So Stanford, who is presumed innocent, will spend at least the weekend, and probably more, in jail waiting to be flown by the U.S. Marshal's Service to Houston. [More...]

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