HOUSTON (AP) — Jailed Texas financier R. Allen Stanford is now competent to be tried next month on charges he bilked investors out of $7 billion in a massive Ponzi scheme, federal prosecutors said Thursday.
The prosecutors' assertion comes ahead of a mental competency hearing on Tuesday, which will be used by a federal judge to determine if Stanford's Jan. 23 trial will go forward.
Stanford's attorneys say his addiction to an anti-anxiety drug, as well as a brain injury he suffered in a jail fight, left him unable to think clearly or help in his own defense. He was declared incompetent to stand trial earlier this year.
The financier spent about eight months this year …
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