Allen Stanford, the head of Stanford Financial Group who stands accused of running a multibillion-dollar fraud, will return to court Thursday for a public hearing to determine who will represent him legally.
The Fifth Circuit Court of Appeals in New Orleans denied an appeal to restore Stanford’s bail and release him from prison until his trial. Stanford will appear in court on the same day and at the same time that his former partner and Stanford Financial Chief Investment Officer James Davis is scheduled to be arraigned and plead guilty to his role in the fraud. Davis has cut a deal with prosecutors.
Stanford fired his attorney, Dick DeGuerin, and has tried to replace him with lawyers from the Washington, D.C., law firm Patton Boggs. So far the courts have rejected all motions from the high-priced firm to allow its lawyers to represent Stanford.
Source: http://www.foxbusiness.com/story/markets/stanford-court-thursday/
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