US judge overturns Allen Stanford’s bail

A Unites States Judge in Houston has overturned the bail of Texan billionaire Sir Allen Stanford.



Stanford was previously granted bail in the sum of US$500 thousand.



Prosecutors told the court that given what they claim is Stanford’s access to wealthy friends and dual citizenship, he could leave the country if he is released from jail.



Based on those arguments, the judge ordered that Stanford should remain in jail.



But Stanford\'s lawyers say they will be appealing the decision.