Ponzi Schemer, Allen Stanford was hospitalized early this morning, for an “extremely high” heart rate, even as his former CFO, James Davis entered a guilty plea to three felony counts on Thursday morning.
Stanford who should have been in court this morning, where his legal representation would have been discussed, was absent owing to his hospitalization.
At 5:30 a.m. CDT “Mr. Stanford was found to have an irregular electrocardiogram and an extremely high pulse rate,” Judge David Hittner said at a hearing. “He was taken to Conroe Regional Medical Facility.”
Following Davis’ own court appearance, he apologized publicly for his actions, saying that he had done wrong.
“I did wrong. I’m sorry,” Davis said, wearing a dark suit. “I apologize. I take responsibility for my actions.”
Davis, charged with conspiracy, fraud and obstruction charges, faces a maximum sentence of 30 years in prison. He will be sentenced on November 20th.
Stanford has been charged with 21 counts including masterminding a $7 billion Ponzi scheme involving certificates of deposit based at his Antigua Stanford International Bank. Stanford, if convicted faces a potential sentence of 375 years in prison.
Allen Stanford has maintained his innocence and through interviews, prior to his arrest, has indicated that Davis was responsible for the fraud.
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