Trial Judge Denies Bail for Stanford and U.K. Court Awards Antiguan Liquidators Control of Funds

On June 30, 2009, U.S. District Judge David Hittner overruled the U.S. Magistrate’s decision that Sir Robert Allen Stanford could be released pending trial, and declared that Stanford is “a serious flight risk” and hence must be detained pending trial. On July 3, 2009, a U.K. court awarded control of 120 million pounds ($196 million) in U.K. assets seized in a fraud investigation to liquidators from Antigua and Barbuda...(more)