Accused Ponzi Schemer Stanford Wants Another Set Of Attorneys


CaribWorldNews, HOUSTON, Texas, Weds. Mar. 31, 2010: Accused Ponzi schemer, Texas-born, Antigua-based financier R. Allen Stanford, is asking for new attorneys again, his fourth set in less than a year.

In a motion filed Tuesday in federal court, Stanford said he now wants to be represented by Houston-based attorneys Michael Essmyer and Bob Bennett. U.S. District Judge David Hittner ordered a hearing on Stanford`s request be held on April 6th.

The move means he will replace Kent Schaffer and George Secrest. The two, according to Reuters, however, say they are more than happy to step aside because there was tremendous conflict between them and Stanford over how the case should be tried.

Stanford`s first attorney, high profile Houston criminal defense attorney Dick DeGuerin, was on the job for less than three months, leaving after failing to get assurances he would get paid.

The former Sir Allen has insisted he innocent of bilking investors out of $7 billion as part of a massive Ponzi scheme. He has been ordered held without bail and to await his trial in a Texas jail.

Stanford, once considered one of the wealthiest men in the U.S. with an estimated net worth of more than $2 billion, had all his assets seized by authorities. This as a number of former investors has taken out their anger against Antigua, Stanford`s former home base for the Stanford International Bank. The former investors have sued Antigua and Barbuda while the government there has said it will fight the lawsuit.


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