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26 January 2011
Last updated at 19:29 ET
A US federal judge has ruled that Texan billionaire Allen Stanford is unfit to stand trial at present over accusations he led a $7bn (£4.5bn) fraud scheme.
Mr Stanford is facing trial over allegations that he ran a pyramid scheme based in Antigua which defrauded investors.
He has pleaded not guilty to fraud, conspiracy and obstruction.
District Judge David Hittner ruled that Mr Stanford did not have the present mental capacity to assist his lawyers.
But he ordered Mr Stanford to undergo treatment at a US prison hospital for an addiction to an anti-anxiety medication, and also receive additional psychiatric testing.
"The court's finding that Stanford is incompetent, however, does not alter the court's finding that Stanford is a flight risk and that no combination of conditions of pretrial release can reasonably assure his appearance at trial," Judge Hittner wrote.
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Mr Stanford is facing trial over allegations that he ran a pyramid scheme based in Antigua which defrauded investors.
He has pleaded not guilty to fraud, conspiracy and obstruction.
District Judge David Hittner ruled that Mr Stanford did not have the present mental capacity to assist his lawyers.
But he ordered Mr Stanford to undergo treatment at a US prison hospital for an addiction to an anti-anxiety medication, and also receive additional psychiatric testing.
"The court's finding that Stanford is incompetent, however, does not alter the court's finding that Stanford is a flight risk and that no combination of conditions of pretrial release can reasonably assure his appearance at trial," Judge Hittner wrote.
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