Court rules that Stanford not fit for trial
Published:Thursday | January 27, 2011 | 9:06 AM
A US District Judge has ruled that Allen Stanford is legally incompetent to stand trial in the fraud case against him.
Prosecutors are accusing Stanford of operating a $7 billion Ponzi scheme.
They allege that he created false accounting records, lied to investors and bribed a regulatory official in Antigua.
US District Judge David Hittner found that Stanford did not have the present mental capacity to effectively assist his attorneys in preparing a defense.
Hittner recommended that Stanford be sent to a medical facility within the US Bureau of Prisons for treatment and an eventual competency exam.