Stanford fraud's trial set for September

Updated: 11 May 2011 11:27 IST

Financier and cricket mogul Allen Stanford has been scheduled to stand trial in September for an alleged 7 billion Ponzi scheme, court records showed.

Stanford fraud's trial set for September

Chicago:

Financier and cricket mogul Allen Stanford has been scheduled to stand trial in September for an alleged 7 billion Ponzi scheme, court records showed.

Stanford was sent to a US prison hospital for drug addiction treatment in February after a judge ruled he was temporarily unfit to stand trial.

Government psychiatrists and Stanford's legal team testified that he was suffering from bouts of delirium linked to his dependency on powerful anti-anxiety medication.

They found the 60-year-old was also depressed due to a brain injury he sustained during a 2009 jailhouse brawl, and recommended he be weaned off the drug.

The flamboyant Texan has pleaded not guilty to more than a dozen counts of fraud, money laundering and obstruction. He faces up to life in prison if convicted. The trial is set to begin September 12.

Topics : Cricket
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