- Spain's Debt Costs Near Danger Level: Is Bailout Next?
- European Companies Plan for Greek Unrest and Euro Exit
- Public Pensions Faulted for Bets on Rosy Returns
- Will the Euro Misery Give Rise to Another Soros?
- Greece to Leave Euro Zone on June 18: Wealth Manager
- Italy 2-Year Borrowing Costs at Peak Since December
- Euro Bond Wins Supporters, but Details Remain Vague
- German, UK Bond Yields Will Go Even Lower
- Labor Board Member Resigns Over Leak to GOP Allies
- A New Look at the ‘New Poor’
- Six Pack: Beer Buzz of the Week
- Greek Exit Could Trigger 50% Fall in Euro Stocks: Analyst
- Under Pressure, FHA Skews to Wealthier Home Buyers
- Big Stock Upside for Hudson City Deal: Analyst
- 5 High-Yield Stocks Ready to Boost Dividends
- Yoshikami: Four Things You Need to Know About Gold Now
- Steinbock: The Euro Zone Endgame Begins
- Option Bulls Take Another Shot on Idenix
MOST SHARED
- Greece Pours $22.6 Billion Into Four Biggest Banks
- Spain's Borrowing Costs Near Danger Level: Bailout Next?
- Will the Euro Misery Give Rise to Another Soros?
- Greece to Leave Euro Zone on June 18: Wealth Manager
- 5 Spots Where the Dollar Buys a Great Vacation
- European Firms Plan for Greek Unrest and Euro Exit
- Public Pensions Faulted for Bets on Rosy Returns
- Winemaking Lures the Wealthy, But Not With Profits
- Hostage to Headlines
- Citigroup Lost $20 Million on Facebook IPO Trades
MOST POPULAR
HOT ON FACEBOOK
Alleged Ponzi Ring Defendants Ask for Trial Delay
Text Size 
Senior Correspondent, CNBC
 |
AP Allen Stanford |
Accused fraudster Allen Stanford and his co-defendants are seeking a delay of their trial, which is currently scheduled to begin on August 25.
Stanford, his former Chief Investment Officer Laura Pendergest-Holt, former accounting executives Gilberto Lopez and Mark Kuhrt, and former Antiguan regulator Leroy King were indicted June 18 in the alleged massive Ponzi scheme.
In a joint motion, the defendants say the case is so complex, involving "hundreds of thousands of documents," that it is "unreasonable to expect adequate preparation" by the August 25 trial date.
The motion does not specify an alternative date, but Stanford's lead attorney, Dick DeGuerin, has said it could take up to a year to prepare for a trial. DeGuerin estimates the trial itself could take six months.
The government does not oppose the delay, but it will be up to the judge in the case, David Hittner, to decide whether to grant it. If he does, however, it could mean more time for Stanford behind bars awaiting trial.
Judge Hittner last month revoked Stanford's bail, declaring him a flight risk. Stanford's attorneys have appealed the ruling, but for now he remains in a federal detention facility 40 miles north of Houston.
- Critical elections are scheduled for Greece in June. Here are some of the players and their roles.
- Our financial system is still not designed to meet the needs of poor families, says this author.
- Statistics show there aren’t many women billionaires compared to their male counterparts. Why?
- Click to see various forms of funding and what entrepreneurs have used to build successful companies.
- Here are some of the most expensive hotels in the world to book. And we mean expen$$ive.
- Always drink responsibly and when you do, try one of these more unusual and tasty drinks. Cheers!
Data is a real-time snapshot *Data is delayed at least 15 minutes
