Business

Delay in Stanford Trial

A judge has again delayed the trial of jailed Houston financier R. Allen Stanford. Andrew Schneider reports.

U.S. District Judge David Hittner has moved the start date for Stanford’s trial from September 12 to January of next year. Doctors treating Stanford say he still not competent to stand trial.

Stanford’s case had been scheduled to begin on January 24, but he was declared incompetent to stand trial due to an anti-anxiety drug addiction he developed while jailed in Houston. For the past four months, he’s been undergoing treatment in a federal prison hospital in Butner, NC.

The former financier, whose Stanford Financial Group had been headquartered in the Galleria area, is accused of bilking investors out of $7 billion in a massive Ponzi scheme. His attorneys say he ran a legitimate business.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas delegations in the U.S. House and Senate, as well as the Texas governorship, the state legislature, and county and city governments. Before taking up his current post, Andrew...

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