Stanford's newest lawyers ask for two-year delay in Texas trial

By Patsy R. Brumfield/NEMS Daily Journal

HOUSTON, Texas – Attorneys for disgraced financier R. Allen Stanford have asked a federal judge to delay his Jan. 24 criminal trial for two years so they can prepare his defense.
The 41-page motion was filed Thursday in Houston, Texas, where he has been jailed since he was indicted in June 2009.
They also say the government “agrees with this motion,” but it wants to “be heard at length” about the delay.
Stanford, 60, is accused of masterminding the scheme, which cost thousands of investors – including many Mississippians – their life savings and retirement funds when his business empire, under Stanford Financial Group, collapsed under a U.S. Securities and Exchange Commission investigation early in 2009.
The company had Mississippi offices, including Tupelo and Jackson.
Stanford insists he is innocent. His top executive, James M. Davis, a Baldwyn native, pleaded guilty in August 2009 for his part in the scheme and is expected to be the government’s key witness at trial.
Thursday, Stanford’s counsel also asked District Judge David Hittner for a new timetable because Stanford’s legal representation has been chaotic, with at least four sets of lawyers since 2009.
They say his mental condition is a mess while .he’s been in federal detention, and earlier this week agreed to the government’s request for a new psychological evaluation.
Also indicted with Stanford was Baldwyn native Laura Pendergest-Holt, two other executives and an Antiguan bank regulator. Their trials were separated from Stanford’s and ordered delayed until after his is completed.

Click here to read the full 41-page continuance motion to the court at Patsy Brumfield’s blog – From the Front Row.