AP source: Indicted billionaire R. Allen Stanford en route to Texas on fraud charges
By Devlin Barrett, APMonday, June 22, 2009
AP source: Indicted billionaire headed to Texas
WASHINGTON — A law enforcement official says indicted billionaire R. Allen Stanford is en route to Texas to face charges that he ran a $7 billion swindle.
Stanford is being brought by U.S. Marshals from Virginia — where he was arrested — to Houston, where he was indicted. The official spoke on condition of anonymity because discussing the transfer was not authorized.
The official says the trip will consist of two separate flights and Stanford will be there sometime Tuesday morning.
Stanford was indicted last week on charges that his international banking empire was really just a massive Ponzi scheme.
He made an initial court appearance in Richmond, Va., and a further detention hearing is scheduled to take place in Houston.
Tags: Houston, Indictments, North America, Ponzi, Ponzi scheme, Texas, Tuesday morning, United States, Us-stanford-surrenders, Washington
