Houston court on Thursday, June 25, agreed to release on bail of $ 500 thousand American billionaire Allen Stanford, who is accused of establishing a financial pyramid. The court also ruled that if released from detention, Stanford will have to wear the transmitter, monitor its location.
Stanford
Family members and friends said that they are willing to make the required amount, $ 100 thousand of which must be made in cash. In doing so, Judge Francis Steysi, dealing with the case, postponed a final decision on the release of 59-year-old Stanford from detention in order that would allow the prosecutor to appeal.
Stanford, head of the Financial Group Stanford Financial, is accused of creating the financial pyramid, from the activities of which affected about 30 thousand people. The total damage is estimated, according to recent data, in the $ 7 billion in claims against the businessman also presented and Tax Service, it is suspected that during the period 1999 to 2003. He underpayment of taxes in the amount of $ 226.6 million
investigation of the SFG was launched by the U.S. Securities and Exchange (SEC) in mid-February 2009. Following these personal accounts were frozen Stanford and accounts belonging to him of financial institutions, and the warrant was issued for his arrest. Billionaires fed into running and surrendered to the authorities only in mid-June 2009. According to aggregate the charges he faces up to 250 years in prison. Sam Stanford did not accept his guilt.
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