A federal appeals court in New Orleans said on Monday that accused swindler Allen Stanford must stay in jail until his fraud trial, reports Reuters. Stanford, accused of leading a $7bn fraud involving certificates of deposit issued by his Antigua bank, has been in federal custody since his arrest in Virginia on June 18. A district judge in Houston ruled in June that Stanford was a flight risk and should remain in custody. That ruling was upheld on Monday.

This entry was posted by Gwen Robinson on Tuesday, August 25th, 2009 at 4:45 and is filed under People. Tagged with Allen Stanford. Edit this entry.