National fundraising committees for the Democratic and Republican parties, President Barack Obama, and other major politicians have declined to return campaign donations totaling $1.8 million from Houston financier R. Allen Stanford, now on trial for allegedly masterminding a $7 billion Ponzi scheme.
Allen Stanford's former college roommate James Davis is now the chief prosecution witness against him. Davis will testify that he witnessed and participated in Stanford's $7 billion Ponzi scheme, the New York Times reports.