Allen Stanford Trial Delayed

A federal judge in Houston has agreed to an unspecified delay the trial of indicted billionaire Allen Stanford, which had been scheduled to begin August 25.

Earlier this week, Stanford and his co-defendants asked for the delay citing the complexity of the case, and the government did not oppose the request.

Stanford's lead attorney, Dick DeGuerin, has said he would need a year to prepare for the trial, but it is not clear whether the judge will agree to that.

Judge David Hittner set a status conference for August 17 to work out the new schedule. Stanford, three other executives and a former Antiguan regulator are charged with running an $8 billion Ponzi scheme, and hiding information from U.S. regulators.