HOUSTON – James M. Davis of Baldwyn will be re-arraigned Aug. 27 for his part in the Stanford financial scandal.
Davis, former chief operating officer for Stanford Financial Group, was accused separately of other Stanford executives indicted on charges they engineered a $7 billion Ponzi scheme and bilked thousands of investors of their life’s savings.
Davis’ attorney and the U.S. Attorney’s Office say he’s expected to plead guilty and continue cooperation against his former employer, R. Allen Stanford, and business colleagues, who include Laura Pendergest-Holt of Baldwyn.
At separate arraignments a few weeks ago, all the accused pleaded not guilty except an Antiguan official, who hasn’t been extradited.
NEMS Daily Journal