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HOUSTON — A federal judge says he will decide by this afternoon whether to revoke bail for Texas financier R. Allen Stanford that would let him be free while he awaits trial on charges he swindled investors out of $7 billion.
Prosecutors asked U.S. District Judge David Hittner to revoke an order granting Stanford, 59, a $500,000 bail. They argued he’s a serious flight risk. But Stanford’s attorney says his client has a strong incentive to stay: to clear his name and restore his finances. The Associated Press
