Financier Allen Stanford Held Without Bond Pending Detention Hearing
Billionaire financier Allen Stamford has been under investigation for months and represented by Dick DeGuerin of Houston, one of the country's best criminal defense lawyers. Yesterday, the Government chose to unseal the indictment against him, while he was in Virginia. The FBI knew exactly where he was -- at his girlfriend's home -- and arrested him there.
Today, Stanford appeared in court in Virginia and the Government announced it was seeking detention. The court ordered him held without bond until his detention hearing, which will be in Houston.
So Stanford, who is presumed innocent, will spend at least the weekend, and probably more, in jail waiting to be flown by the U.S. Marshal's Service to Houston. [More...]
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