Legal Commentary

Judge Orders Bond for Allen Stanford

By Jeralyn

A federal judge in Houston today rejected the Government's motion for pre-trial detention and ordered financier Allen Stanford released on bond. The order was stayed until Friday so the Government can appeal.

"There are no conditions that will guarantee this defendant's appearance in court," Pelletier said. "This case demands pretrial detention."

That's not the test. The standard is whether there are conditions that will "reasonably assure" not guarantee a defendant's appearance.

Dick DeGuerin, Stanford's lawyer, told the court the feds seized everything from him, including his underwear [More...]:

Dick DeGuerin, Stanford's attorney, told Stacy his client did not defraud investors and just wants to clear his name. DeGuerin said Stanford even tried to surrender to federal authorities in the months before his indictment was handed down last week. Authorities couldn't take him into custody until charges were filed.

"He could have fled in the several months this was developing, very easily," DeGuerin said. DeGuerin asked for a reasonable bond amount, saying his client has no money because authorities have seized all of his assets, including his underwear and socks.

There are no cameras in federal court, but the U.S. Marshals made sure the media got a perp walk.

Full post as published by TalkLeft on June 26, 2009 (boomark / email).