Jury Selection Begins in Stanford Trial

Testimony is expected to last at least a month

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    NEWSLETTERS

    TK
    Jailed Texas financier R. Allen Stanford is set to go to trial.

    More than 2 1/2 years after being indicted for allegedly bilking investors out of $7 billion in a massive Ponzi scheme, jailed Texas financier R. Allen Stanford is set to go to trial.

    Jury selection in Stanford's trial began Monday in Houston federal court.

    Testimony is expected to last at least a month. Stanford's attorneys say they expect the financier will testify.

    Stanford's trial was delayed while he spent more than eight months under treatment in a North Carolina federal prison hospital last year. He was declared incompetent due to an anti-anxiety drug addiction developed while jailed in Houston.

    Last month, a judge ruled Stanford was competent.

    Stanford's attorneys had sought to delay the trial, claiming the financier remains incompetent and they needed more time to prepare.