BUSINESS BRIEFING / COURTS
- Share via
TIMES WIRE REPORTS
Texas financier R. Allen Stanford, facing trial on charges that he swindled investors out of $7 billion, will spend the weekend behind bars after a federal judge delayed his release on bond.
U.S. District Judge David Hittner in Houston ordered a hearing Monday to consider whether Stanford’s $500,000 bond, granted by a magistrate, should be revoked. Prosecutors say they believe that Stanford, who holds Antiguan citizenship, is a flight risk.
More to Read
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
