By Patsy R. Brumfield/NEMS Daily Journal
HOUSTON, Texas – A June 11 trial start is set for Baldwyn native Laura Pendergest-Holt and three others for their alleged involvement in the Stanford financial scandal.
The date was set Wednesday, just as attorneys for their former boss, R. Allen Stanford, asked the court to allow them to withdraw.
Stanford, 62, is scheduled to go on trial in Houston federal court Jan. 23 on 14 counts that he and others bilked investors out of $7.2 billion in an alleged Ponzi scheme that crashed in 2009.
Holt was Stanford’s chief investment officer.
Slated to go on trial with her are former Stanford executives Giberto Lopez and Mark Kurt, along with ex-Antiguan bank regulator Leroy King.
Expected to testify against all of them is James M. Davis, former Stanford chief financial officer, who built a grand home in Union County and bought several downtown Baldwyn properties to develop.
His financial world also came crashing down with Stanford, and their assets are slowing being sold off by a court-appointed receiver to built a fund for former investors.
Davis has been free on bond since he pleaded guilty in August 2009.
Also Wednesday, Stanford’s court-appointed attorneys asked the trial judge to allow them to withdraw just 12 days before the start of trial.
They claim they haven’t been allowed sufficient funds to properly defend him.