HOUSTON, Feb 27 (Reuters) Texas financier Allen Stanford’s defense team rested its case in his criminal fraud trial on Monday without calling their client to testify.
“Your honor, the defense rests,” Stanford lawyer Robert Scardino said.
Stanford, 61, is accused of bilking investors from more than 100 countries by selling fraudulent certificates of deposit from Stanford International Bank in Antigua, and then using those deposits to finance his own lifestyle.
The trial began on Jan. 23 in federal court in Houston.
Prosecutors presented a series of witnesses, including former chief financial officer James Davis, who said that Stanford was deeply involved in running the bank.
In their defense, Stanford’s attorneys have sought to portray their client as aloof from day-to-day decisions, blaming Davis, who has pleaded guilty to fraud, and others for any wrongdoing.
Whether Stanford would actually testify in his own defense had been a big question hanging over the trial.
His lawyers said at the beginning of the trial that Stanford wanted to tell his side of the story.
But criminal defense attorneys said that letting a defendant testify is very risky because it puts their credibility with the jury on the line and it leaves them open to tough questions from prosecutors.
It could also have put Stanford’s reputation for having a fiery temper to the test.
Throughout the trial, former employees testified about their boss being very quick to anger.
The case is USA v. Stanford et al, U.S. District Court for the Southern District of Texas, No. 09r-00342.
(Reporting by Anna Driver in Houston; Editing by Eddie Evans and Matthew Lewis)
I do hope that one day ministers in this government will pay for money take and bank overseas and money for passport used for personal benefit
according to his biography, the cia said, “put him down”
I suspect, despite his obvious weakness, his cia mission became black washed when he became (contrary to his porfolio) assimilated in the antiguan society.
He was good for antigua but bad for cia
hmm
But see dat non,both Skerrit and Stanford used the fifth amendment,but why????????
When allu read about Stanford, always remember Skerro! In time to come!
boy u should have given me sm of dat money bfore dey catche u garcon
honestly this man revived cricket in the caribbean but at a real costly price that he’s paying for and rightly so… will the C.C.J deal with those insurance bosses the same??? when uncle sam get his hands on you is trouble eh smh…. just imagine if some of our politicians have to sit under uncle sam… hhmmmm what a site..
Justice Justice. Those who fleeced the poor people of the OECS with their insurance fraud; the politicians who flew on their private jets and gave them diplomatic passports all of them have to pay. Too much wicked and heartless people running around in suit and tie fooling people; buying loyalty and manipulating the justice system. All these scoundrels must be isolated and incarcerated. I hope they get hold of this one ambassador at large and put him away. Unfortunately some of the money that people have lost went up in political joy rides , Siwo, resort and paid overseas trip. Some of the lawyers who were involved in laundering the money should also be prosecuted.
I am in the process of printing my manifesto for the next general election. So far my manifesto is made up of 4 focus area – PROSECUTION , JUSTICE, JAILHOUSE EXPANSION and RECORVERY OF STOLEN RESOURCES.
You started well but spoilt it towards the end. You must master the art of saying just enough, and saying what is pertinent.
Well eh beh Stanford you not easy ? So if is not you that give permission for selling the fraudulent certificates then is me then? This just goes to show that we need to be ethical in all that we do look now the boss clearing his name and its the workers that have to serve the time for him. There’s a seriuos lessen to be learnt here