Vijay Offered $500K for Bail of Pal Stanford

(AP) - A US district judge today revoked bond for Texas financier R. Allen Stanford, who's charged with swindling investors out of $7 billion. David Hittner approved a request by prosecutors to overturn a magistrate judge's decision to allow Stanford freed on $500,000 bond pending his trial. Prosecutors argued that Stanford's international ties make him a serious flight risk. More»

(NEWSER) - Laura Pendergest-Holt, the chief investment officer for disgraced financier Robert Allen Stanford’s firm, is being held on $300,000 bail, the Houston Chronicle reports. Her family is attempting to come up with the $30,000 cash necessary to free her. Holt spent last night in prison after being accused of lying to the Securities and Exchange Commission. Her lawyer was irate about the arrest. She “even flew here to cooperate,” he said. More»

Banker accused of giving bribes, Super Bowl tickets to Caribbean regulator

(NEWSER) - Alleged Ponzi schemer Allen Stanford cut his wrist and made a secret blood pact with the banking regulator of the island of Antigua, where his bank operated, according to court documents. Stanford and the official pressed their bloody wrists together in a "brotherhood ceremony," after which the regulator called him "Big Brother," reports the New York Times. Stanford later gave the regulator Super Bowl tickets and deposited bribes into his Swiss bank account, according to a witness. More»

Alleged fraudster files a motion to move to cushier Houston jail

(NEWSER) - Accused financier R. Allen Stanford is demanding he be moved from his current jail to a nicer facility in Houston, on grounds that his current cell is not comfortable enough, the New York Post reports. Stanford, charged with swindling investors out of $7 billion, complained through his lawyer that the Joe Corely Detention facility lacks air conditioning and suffers frequent power outages. More»

Prosecutors call financier flight risk, ask he be held without bail

(NEWSER) - Financier Robert Allen Stanford and three former associates pleaded not guilty today to federal charges they operated a $7 billion Ponzi scheme out of Antigua, the Houston Chronicle reports. Prosecutors asked the judge not to release Stanford, 59, on bail, saying his wealth, international connections and prospect of a long sentence make him a flight risk. More»