HOUSTON – James M. Davis of Baldwyn won’t be sentenced until after his former Stanford Financial Group colleagues’ trials, a federal judge has ordered.
Davis pleaded guilty in late August to charges he helped mastermind a $7.2 billion Ponzi scheme on Stanford certificate of deposit investors.
He apparently was set for a Nov. 20 sentencing, although no public notice had been made about it.
Judge David Hittner’s order said new dates for Davis’ presentence investigation and sentence hearing will be entered 30 days after the conclusion of a jury trial in the case against Stanford CEO Allen Stanford, Chief Investment Officer Laura Pendergest-Holt of Baldwyn and three others.
Davis and his wife, Lori, reportedly are living in Michigan, where her family owns a farm.
NEMS Daily Journal