Stanford victims to be heard in court

16 July 2009

Those who believe they are a victim to the $7 billion fraud that is alleged to have been carried out by Sir Allen Stanford will be able to tell their stories in court, a judge has ruled.

US district judge Davis Hittner ruled that the "thousands of potential victims around the world" will be able to either speak in court or submit written statements, the Associated Press reports.

The opinions will be voiced at a court hearing due to take place next month and the judge stated he will listen to the views before he reaches a plea agreement regarding James Davies, the firmer chief financial officer of Stanford Financial Group (SFG).

Mr Davies was charged for his role in the alleged fraud last month and pleaded not guilty on Monday, but his attorney has stated that he will change his plea during a court hearing on August 6th.

Stanford was charged by the Securities and Exchange Commission in February and a number of staff, including SFG chief investment officer Laura-Pendergest-Holt, have also appeared in court.

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