Tuesday, 30 September 2014
Last updated 12 min ago
Nov 9 2010 | 10:08am ET
A British tabloid has published pictures of accused hedge fund fraudster R. Allen Stanford following his beating in prison last year.
In the photos, the alleged mastermind of a $7 billion Ponzi scheme sits shackled on a gurney in a neckbrace, as nurses and guards at the private prison in South Texas attend to his wounds. Stanford suffered fractures to his eye socket and cheek bones in the attack, and has lost all feeling in the right side of his face, the Daily Mail, which published the pictures, reports.
Following the attack and an operation at a prison hospital, Stanford was transferred to a new prison in Houston, where he is awaiting trial, set to begin in January.
Stanford had frequently complained about the Joe Corley Detention Center, which he said was overcrowded, had no air conditioning and suffered from electrical problems. On the night of his beating, there were reportedly 14 inmates stuck in a cell designed to house eight.
According to the Sunday Times, Stanford told a friend that he "was on the telephone and some of the other people in the cell didn't like it."
"They said something to me and then two of them jumped me and kept punching me and kicking me in the head," the 60-year-old told his friend. "I lost consciousness, but at one time I came round and grabbed one of them by the leg. That just set them off again."
No one has been charged or disciplined for the beating.
In the interim, Stanford has changed his lawyers for the upcoming criminal trial for the fifth time. Due to his indigency, he parted ways with noted trial attorney Robert Bennett and has been appointed two public defenders.
The judge in the case, U.S. District Judge David Hittner in Houston, rejected three lawyers proposed by Stanford, noting that "indigent defendants do not have the right to select their own attorneys."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.