Stanford Ruled Competent To Stand Trial

U.S. District Judge David Hittner announced his ruling this afternoon after a nearly three-day competency hearing in Houston federal court.

Stanford is accused of bilking investors out of $7 billion in a massive Ponzi scheme. His trial is set for January 23.

Stanford had been declared incompetent early this year due to an anti-anxiety drug addiction he developed while jailed in Houston and was treated for eight months at a federal prison hospital in North Carolina.

Prison hospital officials said Stanford is competent for trial. However, medical experts who testified for Stanford said a brain injury the financier suffered in a jail fight has left him unable to aid his own defense.

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