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Texas Billionaire Stanford Surrenders to FBI Agents in Va.

R. Allen Stanford/bbc news photo

R. Allen Stanford/bbc news photo

Update:  Stanford Indicted Friday Morning (N.Y. Times)

It’s been hard to stomach seeing that swindlers like R. Allen Stanford and Bernie Madoff not only lived the good life, but enjoyed the respect of so many people who admired their wealth.

By MARY FLOOD and TOM FOWLER
Houston Chronicle
HOUSTON — Federal prosecutors are expected to announce an indictment against embattled Texas businessman R. Allen Stanford and others, possibly as early as today in a Washington news conference.

On Thursday, Houston prosecutor Gregg Costa, along with other prosecutors and FBI agents who have been investigating the Stanford Financial Group, obtained an indictment from a Houston grand jury. The same panel indicted Stanford Chief Investment Officer Laura Pendergest-Holt earlier this year.

A grand juror went before U.S. Magistrate Judge Frances Stacy Thursday, accompanied by Costa and the agents. She told the judge she had indictments to return, which Costa asked to have sealed. Stacy then cleared all media from the courtroom.

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