Judge Orders Bond for Allen Stanford

A federal judge in Houston today rejected the Government's motion for pre-trial detention and ordered financier Allen Stanford released on bond. The order was stayed until Friday so the Government can appeal.

"There are no conditions that will guarantee this defendant's appearance in court," Pelletier said. "This case demands pretrial detention."

That's not the test. The standard is whether there are conditions that will "reasonably assure" not guarantee a defendant's appearance.

Dick DeGuerin, Stanford's lawyer, told the court the feds seized everything from him, including his underwear [More...]:

Dick DeGuerin, Stanford's attorney, told Stacy his client did not defraud investors and just wants to clear his name. DeGuerin said Stanford even tried to surrender to federal authorities in the months before his indictment was handed down last week. Authorities couldn't take him into custody until charges were filed.

"He could have fled in the several months this was developing, very easily," DeGuerin said. DeGuerin asked for a reasonable bond amount, saying his client has no money because authorities have seized all of his assets, including his underwear and socks.

There are no cameras in federal court, but the U.S. Marshals made sure the media got a perp walk.

< Late Night: (It Don't Matter If You're) Black or White | The Senate And The Supreme Court >
  • The Online Magazine with Liberal coverage of crime-related political and injustice news

  • Contribute To TalkLeft

  • Display: Sort:
    The feds' treatment of Stanford (5.00 / 1) (#7)
    by Spamlet on Fri Jun 26, 2009 at 12:47:43 AM EST
    continues to be a disgrace, no matter what people think of Stanford personally. I said as much a few days ago:

    I'm not easily shocked. But I'm shocked by the indifference displayed here--by people who should and do know better--to the principle of presumed innocence. Wow.

    I was quickly set straight:

    Presumption of innocence is not the issue.

    A timely post from Glenn Greenwald yesterday:

    Half of the American citizenry is now explicitly pro-torture. . . . Just think about what that says about how coarsened and barbaric our populace is. . . .  it's now normal and standard for pollsters to include among the various questions about garden-variety political controversies . . . a question about whether one believes the U.S. Government should torture people. . . . That's how normalized torture has become, how completely eroded the taboo is in the United States.

    I rest my case.

    thanks, Spamlet (none / 0) (#8)
    by Jeralyn on Fri Jun 26, 2009 at 01:58:26 AM EST
    much appreciate your repost.

    Certainly (none / 0) (#6)
    by Spamlet on Fri Jun 26, 2009 at 12:44:22 AM EST
    Amended comment on the way.

    guess he should have put everything in some other (none / 0) (#9)
    by of1000Kings on Fri Jun 26, 2009 at 02:01:38 AM EST
    persons name, a la our good friend Madoff...

    According to NPR today, judge is (none / 0) (#10)
    by oculus on Fri Jun 26, 2009 at 05:15:35 PM EST
    reconsidering decision to set bail at $500,000.