Alan Stanford Wants To Be Released from Jail

Sir Allen Stanford talks to the London press during a 2008 press conference. (credit: Getty Images/Tom Shaw)

Sir Allen Stanford talks to the London press during a 2008 press conference. (credit: Getty Images/Tom Shaw)

NEW ORLEANS (AP) – Lawyers for jailed Texas financier R. Allen Stanford say his right to a speedy trial has been violated.

Defense attorney Ali Fazel told judges that Stanford should be set free as he awaits trial in what prosecutors called a huge Ponzi scheme.

Stanford and others face a variety of federal charges in Houston federal court, including mail fraud, wire fraud and conspiracy in what prosecutors say was a $7 billion pyramid scheme. A trial date is currently on hold while Stanford undergoes treatment for an anti-anxiety drug addiction

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