Business

Will Stanford Take The Stand?

The trial of R. Allen Stanford is running ahead of schedule, according to Judge David Hittner. Stanford's attorneys began examining witnesses yesterday, though they have yet to reveal whether the Houston financier will take the stand in his own defense.

If Stanford decides to testify in his ongoing fraud trial, it could be the most important sales pitch he’s ever had to make. The reward won’t be financial but something far more valuable right now for Stanford — his freedom.

Legal experts say while there is a high reward for Stanford if he testifies, it is also a huge gamble that is not worth the risk. There are concerns the larger-than-life businessman could come across as arrogant and be unable to reasonably explain where investors’ money went.

Prosecutors claim Stanford bilked investors out of more than $7 billion through the sales of certificates of deposit from his bank on the Caribbean island of Antigua. Stanford’s attorneys have blamed his ex-chief financial officer, James Davis, for the fraud.

Subscribe to Today in Houston

Fill out the form below to subscribe our new daily editorial newsletter from the HPM Newsroom.

* required

Share

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 Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

More Information