Prosecutors: 2-year Stanford trial delay too long
HOUSTON
Defense lawyers should have additional time to prepare but they
already have filed motions "covering most conceivable legal
issues" in the case, Assistant U.S. Attorney Gregg Costa said
Monday in a filing with U.S. District Court Judge David Hittner.
"The requested continuance of two years is excessive," Costa
said, adding that such a delay would be inconsistent with the
public's interest in a speedy trial for Stanford. "Stanford will
use a lengthy continuance to further what appears to be his only
goal in this case: obtaining pretrial release."
Stanford is accused of bilking investors out of $7 billion in a
Ponzi scheme and was supposed to go on trial Jan. 24. An appeal by
Stanford contends the January trial date already violates his
interest in a speedy trial, Costa noted.
Hittner has scheduled a status conference for Thursday on claims
from Stanford's lawyers, following an examination by a psychiatrist
they selected, that their client is not competent to stand trial.
Hittner, acting on a government request, authorized a second
competency exam for Stanford. Results were ordered sealed.
Psychiatrists and prison officials were expected to appear at
the Thursday hearing to help Hittner decide if Stanford should
undergo further observation or move forward with trial.
In his most recent court filing, Costa recommended Hittner put
off the trial set for later this month, resolve the competency
issues and then set a firm trial date.
"The setting of a firm date, which should be much sooner than
the two-year continuance the defense seeks, is in the best
interests of the parties, the court, witnesses and victims," he
said.
A gag order issued by the judge in September bars lawyers from
publicly discussing the case outside the courtroom.
Stanford and three ex-executives of his now-defunct
Houston-based Stanford Financial Group are accused of orchestrating
a colossal pyramid scheme by advising clients from 113 countries to
invest more than $7 billion in certificates of deposit at the
Stanford International Bank on the Caribbean island of Antigua,
promising huge returns..
Stanford's attorneys say he ran a legitimate business and
didn't misuse bank funds to pay for what the prosecutors have said
was a lavish lifestyle.
Stanford and the executives have pleaded not guilty to
various charges, including money laundering and wire and mail
fraud.
They are also fighting a Securities and Exchange Commission
lawsuit filed in Dallas that makes similar allegations.
Stanford once was considered among the wealthiest men in
the U.S. with an estimated worth topping $2 billion. He's been
jailed since his indictment in June 2009. Since then, he's had a
series of health problems, including a non-life-threatening
aneurysm in his leg and a concussion and broken nose after getting
into a jail fight in September 2009.
He lost a lawsuit last October to have his insurance
company pay for his legal fees. Costa said in Monday's filing the
defense request for a two-year trial delay was based on erroneous
premises that his "game of 'musical attorneys"' -- his current
lawyers are his fifth set of lawyers -- "are attributable to
uncertainty over the insurance policy and not his ever-changing
predilections" and that the case was so complicated it would
require two years to prepare.
Costa said Stanford's attorney changes were "a problem of his
own making" and his current legal team, court-appointed since he's
been declared an indigent defendant -- "greatly overstates the
complexity of the case."