Stanford executive pleads guilty
Published:Thursday | August 27, 2009 | 1:06 PM
The former chief financial officer of billionaire Sir Allen Stanford\'s empire has pleaded guilty to charges relating to his boss\'s alleged US$7 billion fraud.
James Davis pleaded guilty to two fraud charges and one of obstructing the US financial watchdog\'s investigation of Sir Allen.
Sir Allen, who has pleaded not guilty to his charges, is currently in detention awaiting trial.
The BBC reports that he has been taken to hospital for a high pulse rate.
Davis, who has been co-operating with prosecutors under a plea deal, faces a prison term of up to 30 years.