Public Defender to Represent Stanford

HOUSTON - A judge has decided to allow financier R. Allen Stanford to be represented by a court-appointed defense attorney since his assets have been frozen by the federal government.

Judge David Hittner ruled Tuesday that Stanford will be represented by a public defender instead of his former attorney Dick DeGuerin, who appeared in federal hearing in downtown Houston to ask the judge to withdraw him from Stanford's legal defense.

It all boils down to money. DeGuerin was concerned that Stanford does not have enough funds available to cover his legal fees. He claims that he has not been given assurances that he would be paid.

A federal judge asked Stanford if he had the money right now to hire a private attorney. When Stanford said no, he was appointed a federal public defender.

Stanford is accused of bilking investors out of $7 billion in a complex Ponzi scheme with international connections.