Stanford lawyers want to quit case

Lawyers for Texas financier Allen Stanford, who is scheduled to go on trial for fraud on January 23, have asked a US federal district judge to let them quit the case.

Stanford is accused of operating a US$7-billion Ponzi scheme, involving Antigua-based Stanford International Bank (SIB).

Attorneys Ali Fazel and Robert Scardino, who are being paid from public funds because Stanford's assets are frozen by court order in a related case, filed the withdrawal request with US District judge David Hittner in Houston, Texas, last Wednesday, saying budget restrictions are hampering their effectiveness.

"The rulings of this court, the budget matters made public by this court, and matters still under seal have placed counsel in an untenable position," they said. "Counsel cannot represent the accused competently."

Jury selection is scheduled to begin on January 23. Stanford is accused of defrauding investors who bought certificates of deposit issued by his SIB. He has denied the charges.

Laura Sweeney, a spokeswoman for the US Justice Department, declined to comment on the lawyers' request.

Stanford has been in US federal custody since he was indicted in June 2009.

- CMC