Accused Ponzi Schemer Stanford `Depressed`

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CaribWorldNews, HOUSTON, Texas, Thurs. May 20, 2010: The once flamboyant billionaire and cricket mogul turned jailed accused Ponzi schemer, R. Allen Stanford, is reportedly depressed.

That`s according to his new set of attorney, who this week renewed their bid to get the former Antigua & Barbuda resident and knight, released on bail.

In a motion filed this week, his lawyers said jail has reduced their client to a `wreck of a man.`

In court papers, they claim Stanford is severely depressed, forgets conversations, can no longer see out of one eye, and believes that he is losing his mind.

They are asking a federal judge, for a third time, to grant the jailed financier bond so he can be released from jail pending his January 2011 trial.

Stanford is charged with bilking investors out of $7 billion as part of a massive Ponzi scheme that operated largely out of the Antigua-based Stanford International Bank.

 

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