Experts: Stanford's Trial Not Won With 1 Witness


Salon Staff
February 12, 2012 11:36PM (UTC)

HOUSTON (AP) — Many of the dramatic details — including bribes and blood oaths — at former jet-setting Texas tycoon R. Allen Stanford's ongoing fraud trial in Houston have come from his former top money man and the prosecution's star witness.

James M. Davis testified for days about the alleged $7 billion Ponzi scheme, while the defense did its best to tear down his credibility and portray him as the true mastermind.

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Legal experts say a fraud case as complex as this one isn't won or lost with one witness and Stanford's fate remains unclear.

Prosecutors claim Stanford bilked investors through the sales of certificates of deposit from his Caribbean bank.

Stanford's attorneys claim Davis was behind the fraud and the financier's business empire was legitimate.


Salon Staff

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