Judge rejects request to delay Stanford trial

A federal court hearing for alleged ponzi schemer R. Allen Stanford begins today to determine if he is competent to stand trial.

December 28, 2011 5:10:33 PM PST
A federal judge has rejected a request by disgraced financier R. Allen Stanford that his trial be postponed.

U.S. District Judge David Hittner's ruling Wednesday denied a motion by Stanford's attorneys for a continuance until April. The ruling means jury selection will begin Jan. 23.

Stanford has been jailed since being charged in 2009 with bilking investors out of $7 billion in a massive Ponzi scheme.

Hittner's ruling said Stanford has adequate legal representation and that the need for a speedy trial is particularly acute because of the thousands of investors affected.

Hittner ruled last week that Stanford is competent to stand trial. That ruling came after a three-day hearing in which Stanford's attorneys argued that a traumatic brain injury and other disorders prevented him from assisting in his defense.