Billionaire Stanford retains lawyer in SEC case

HOUSTON, (Reuters) – Allen Stanford hired a Dallas  lawyer to represent him in a case where he is accused of an $8  billion fraud by the U.S. government, court records showed.

Texan billionaire Stanford, two top aides and three of his  companies are accused of a long-running Ponzi scheme by the  U.S. Securities and Exchange Commission involving high-yield  certificates of deposit.

Stanford, who was served with a summons by FBI agents on  Feb. 19 in Virginia, has yet to respond to the charges by the  SEC and has maintained a low profile. He does not face criminal  charges. Court records show the flamboyant billionaire has retained  Charles Meadows, a partner at a Dallas law firm and fellow  alumnus of Baylor University. According to the firm’s website,  Meadows specializes in white collar cases and civil and  criminal tax litigation.

A call to Meadows was not immediately returned. Meadows  told the Houston Chronicle that he so far was hired to  represent Stanford at a hearing in Dallas on Monday, but they  were in discussions about additional work.

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