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01 Jul 2009
A US judge has overturned Sir Allen Stanford's bail ruling, saying he should remain in jail until his fraud trial.
The judge overturned an earlier decision to grant Mr Stanford bail of $500,000 (£305,000). Prosecutors argued he was a flight risk, and had a wealthy network of friends and dual citizenship that would make it easy for him to flee the US.
Mr Stanford will sit trial over allegations he defrauded investors of $7bn (£4.2bn).
The BBC reports that Mr Stanford's lawyers were disappointed with the decision and would appeal against the ruling.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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