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Hearing Set on Stanford Bid to Delay Trial

The judge in the upcoming criminal trial of accused Ponzi schemer Allen Stanford has set a hearing for next Thursday on Stanford's motion to delay the trial, which is scheduled to begin January 24.

Stanford's court-appointed attorneys have asked for a two-year delay in the trial, in which Stanford faces 21 criminal counts over an alleged $7 billion Ponzi scheme.

Lead defense attorney Ali Fazel, who took over the case in October, has argued Stanford has been unable to assist in his own defense while being held without bail as a flight risk. Fazel says the extra time is needed to review millions of pages of documents. He also argues Stanford should be freed on bond ahead of the trial.

The government opposes the bond request, but thus far has not opposed delaying the trial.