Kevin Charles

Closing Arguments In The R. Allen Stanford Trial

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Pattie Shieh

The federal courtroom filled quickly in Downtown Houston, as attorneys prepared to present closing arguments in the fraud trial of R. Allen Stanford.

Each side was given a total of two hours to sum up their case for jurors. The fallen Texas financier is accused of bilking investors out of more than $7 billion dollars over the course of two decades.

After weeks of testimony, 61-year-old Stanford did not take the stand in his own defense.

Stanford faces fourteen charges, including mail and wire fraud. His financial empire is devastated. Stanford has been behind bars and held without bail for more than two years.

During Wednesday’s proceedings, wearing a conservative suit and wire rimmed glasses, Stanford smiled at his family as they walked into the courtroom a little after 9:00 A.M., CST, and took seats in the front row.

At one point, Stanford flashed a sign signifying everything is well; he received a smile in return from his family members.

As Judge David Hittner took the bench, Stanford then winked at his family.

Tuesday, attorneys for the government and defense submitted a total of 100 pages of jury instructions.

The judge then read the 45-page jury instruction packet for the panel of jurors, with two alternates present.

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