Stanford trial delay sought
Published:Wednesday | December 29, 2010 | 12:00 AM
The trial of Texas financier R. Allen Stanford could be delayed for two years, if his legal team prevail.
Stanford's lawyers say they need to reset the trial, which is to begin on January 24, so they can prepare the defence.
Stanford is accused of orchestrating a US$7 billion Ponzi scheme through his Antigua-based Stanford Inter-national Bank.
His current set of lawyers was appointed in October, when the former billionaire was declared indigent.
The lawyers now say they need more time to thoroughly review more than five million documents and dozens of potential witnesses in the case.
Stanford lost in his pitch to the court for his insurers, Lloyds of London, to pay his legal bill.
- CMC