BUSINESS BRIEFING / COURTS
TIMES WIRE REPORTS
Texas financier R. Allen Stanford, facing trial on charges that he swindled investors out of $7 billion, will spend the weekend behind bars after a federal judge delayed his release on bond.
U.S. District Judge David Hittner in Houston ordered a hearing Monday to consider whether Stanford’s $500,000 bond, granted by a magistrate, should be revoked. Prosecutors say they believe that Stanford, who holds Antiguan citizenship, is a flight risk.
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