Allen Stanford, who know a thing or two about Ponzi schemes, arrived over the weekend at the Federal Correctional Complex in Butner, NC, Bernie' Madoff's home for the next 148 or so years.  Stanford is awaiting trial on charges that he ran a $7 billion Ponzi scheme, a crime he says he did not commit. 

In late January, Federal Judge David Hittner in Houston ruled that Mr. Stanford was incompetent to stand trial at that time, and ordered him to be treated for drug addiction and mental health problems at a well-respected federal prison hospital - the Federal Medical Center in Butner, N.C.  Stanford became addicted to anti-anxiety drugs and antidepressants after being badly beaten in prison in 2009.

Stanford was arrested in June 2009 on criminal charges including securities fraud and money laundering. He's accused of selling billions of dollars in fraudulent CD's through the Antigua operations of the Stanford Financial Group.  Last week, he filed suit against prosecutors, FBI agents and the SEC, accusing them of "abusive law enforcement.”  He's seeking $7.2bn in damages.

    Stanford's Temporary Stay.   Unlike Madoff, Stanford will leave Butner - at least to go back to the federal detention center in Houston for his trial.  And, if he's convicted, he could end up back in Butner or another federal prison.   [NYT Dealbook, 2/22]