Judge to decide if insurance policy pays Stanford legal bills

August 28, 2010 6:02:53 AM PDT
It's now up to a judge whether disgraced financier R. Allen Stanford will continue to have his legal bills paid for by an insurance policy. Yesterday was the last day of a four-day hearing on the matter. Stanford is fighting charges of bilking investors out of $7 billion in a massive ponzi scheme.

Prosecutors say Stanford committed money laundering, which invalidates the policy.