Prosecutors Plan Stanford Bond Appeal

HOUSTON (AP) _ If prosecutors get their way, Texas billionaire R. Allen Stanford’s release on bond could be thwarted.

Stanford is awaiting trial on charges he swindled investors out of $7 billion as part of a massive investment scam.

A federal judge on Thursday said Stanford could be released on a $500,000 bond. The judge told prosecutors, who had asked the financier be held in jail, she would delay her order until today to give them time to appeal her decision.

The bond includes a $100,000 cash deposit.

Stanford’s attorney, Dick DeGuerin, had asked for a reasonable bond amount, saying his client is broke because authorities have seized all his assets. That includes his underwear and socks.

He said Stanford wants to fight the charges against him, not flee.

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