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Sir Allen Stanford faced the possibility of a long detention, after US federal prosecutors filed papers opposing any move to grant the fallen financier freedom on bail pending his trial for wide-ranging fraud charges.
Billionaire R. Allen Stanford arrived at a federal courthouse as he faces charges of fraud and conspiracy related to allegations that he swindled investors out of $7 billion.
Iran's supreme leader passionately defended last week's presidential election process today, praising President Mahmoud Ahmadinejad's election as a "definitive victory" and denying charges of vote-rigging.
Texas billionaire R. Allen Stanford, chairman of the troubled Stanford Financial Group, surrendered to FBI agents in Virginia Thursday afternoon, his attorney said.
A state judge on Thursday ordered former HealthSouth CEO Richard Scrushy to pay nearly $2.9 billion to shareholders who sued over a massive accounting fraud that nearly sent the rehabilitation chain into bankruptcy.
His main challenger, Mir-Hossein Mousavi, disputes the election results, and his supporters clash with police in Tehran. The vote outcome may have broad consequences for U.S. foreign policy.