Less than three weeks before Allen Stanford’s fraud trial is scheduled to begin, his lawyers are preparing to tell a judge why the trial date should be put off for at least another two years. The hearing has been set for Thursday.
Court-appointed defense attorneys Ali Fazel and Richard Scardino have submitted papers in court contending that they will not be ready for the January 24, 2011 trial. They claim that little progress has been made on actual trial preparation and they need more time to properly analyze more than five million documents and dozens of potential witnesses. Besides trying to secure a delay in the fraud trial, the attorneys want Stanford released on bail so that he can prepare himself properly for the trial. On the other hand, his doctor has also declared him incompetent to stand trial, a claim that is to be tested by a government psychiatrist.
Stanford, who allegedly cheated investors in the Stanford International Bank in Antigua out of US$7 billion, has been in jail since June 2009.
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Repeating Islands 
Dr Gaytri Kachroo
Stanford investors are preparing to preserve their rights to sue the US Government over the Securities and Exchange Commission’s failure to conduct appropriate enforcement in the alleged international Ponzi scheme perpetrated by Allen Stanford of Texas.
Investors are being represented by Dr Gaytri Kachroo, the attorney who filed the class action suit in the Madoff case in November 2010.
Dr Kachroo said if investors want to participate in an action against the SEC, most likely a class action, they must file no later than February 16 (on the safe side) by speaking with a KLS representative as soon as possible.
She strongly advised international investors to contact and file all documentation with Kachroo Legal Services before January 15. Those investors who have not contacted Dr Kachroo may do so at http://www.Kachroolegal.com.
Dr Kachroo represents the Madoff whistle-blower, Harry Markopolos, and continues to represent many Madoff investors.
You can download information from Stanfords Forgotten Victims blog, or contact the lawyer direct at info@kachroolegal.com