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Allen Stanford: Competent to stand trial

December 22, 2011
Allen Stanford is mentally fit to stand trial and will face a jury next month on charges he swindled investors of more than $7 billion, U.S. District Judge David Hittner in Houston ruled.  Hittner’s ruling followed testimony from psychiatrists and neurologists who examined Stanford during and after eight months of rehabilitation at the federal prison hospital in Butner, NC. Stanford’s defense team argued unsuccessfully that his mental capacity was diminished by head injuries he suffered in a 2009 jailhouse assault and the effects of powerful anxiety medications prescribed in prison after the beating. Prosecutors told the judge that Stanford was trying to avoid trial by faking amnesia. They cited the results of more than 16 neuropsychological tests and a magnetic brain scan administered at Butner.
Stanford, 61, has been imprisoned as a flight risk since his June 2009 indictment on charges of defrauding investors through a scheme built on allegedly bogus certificates of deposit at Antigua-based Stanford International Bank Ltd.   Judge Hittner delayed Stanford’s trial, first set for last January, after three doctors testified that the financier was incapable of assisting in his defense because of his drug dependency and potential effects from the head injury following the prison altercation.  Stanford was sent to Butner for rehabilitation and then back to a Houston lockup in November after Butner medical officials certified him competent to stand trial. The trial is to begin with jury selection on Jan. 23.   [Bloomberg 12/22/11]