Allen Stanford Trial Delayed To 2012

News Americas, HOUSTON, TX, Fri. June 24, 2011: A judge this week was forced to reschedule the trial of accused ponzi schemer, R. Allen Stanford to next year.

The decision by Judge David Hittner came as experts at the Federal Medical Center in North Carolina, where Stanford is receiving medical and psychiatric treatment to restore his competency, said they need more time to treat and evaluate the former billionaire entrepreneur and Antigua resident.

Psychiatrists told Judge Hittner this week that they don’t feel Stanford is competent to date, after four months of treatment, and requested another four months to treat him.

The trial of Stanford was originally set to begin on September 12th but the four months additional time frame forced the judge to postpone the trial to January 2012.

However, experts were told to tell the court if they believe Stanford can stand trial before the four months additional treatment so an earlier trial date can be set.

The once flamboyant Stanford is accused of perpetrating a $7 billion Ponzi scheme that left many of his investors broke. He has pleaded innocent to the charged. Stanford is currently inmate #35017-183 and is being held in Butner, N.C. after a judge ruled in January that he was incompetent to stand trial and recommended he undergo treatment for his reported traumatic brain injury, addiction to an anti-anxiety medication and major depressive disorder at a federal facility with suitable medical capabilities.