Stanford took a beating and another potential one is brewing. Judge Dave agreed with the prosecutors and Stanford has been detained until trial. USAO 1 - Stanford 0.
But here's the juicy bit that just popped up.
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R. Allen Stanford’s former chief financial officer and right-hand man at his fallen financial empire has struck a plea deal with prosecutors, his lawyer said today.
David Finn, who represents former Stanford Financial Group finance chief James Davis, said that his client will plead guilty to a crime in coming weeks as part of his ongoing cooperation with the government.
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I would say that Davis seized the opportunity when he was asked, "Do you want to be a witness or a defendant?" He is charged with conspiracy and fraud, and the conspiracy charges would seem liable to lead back to Sir Allen.
Cogdell and DeGuerin responded as expected:
Quote:
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"If Mr. Davis committed crimes it was without the knowledge or approval of Allen Stanford, and Mr. Davis will have to answer for those crimes," said Stanford's lawyer, Dick DeGuerin.
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Quote:
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Pendergest-Holt's lawyer, Dan Cogdell, said if Davis tells the truth he will clear her during the government's direct examination of Davis at trial."If he does otherwise, we will happily seek to develop the truth on cross examination," Cogdell said.
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You can tell both these boys were trained by Racehorse Haynes:
Quote:
“Say you sue me because you say my dog bit you,” [Haynes] told the audience. “Well, now this is my defense: My dog doesn’t bite. And second, in the alternative, my dog was tied up that night. And third, I don’t believe you really got bit.”
His final defense, he said, would be: “I don’t have a dog.”
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But, I am optimistic. 
The boat still floats and we all have our health. 
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