Posted by: Matthew Goldstein on April 16
It took a while, but hot-shot criminal defense lawyer Dick DeGuerin is officially representing disgraced financier R. Allen Stanford. And he’s about to ask a federal judge to unfreeze some of Stanford’s assets so he can mount a legal defense.
DeGuerin today filed a formal notice of appearance in the pending Securities and Exchange Commission civil fraud case against Stanford. Up until this point, DeGuerin has been fielding phone calls from reporters and issuing statements proclaiming Stanford’s innocence. But it wasn’t until today that he made a formal court appearance on Stanford’s behalf.
Now mind you, this isn’t much of an appearance. All DeGuerin filed was a brief two-page filing in federal court that notes his involvement. But it’s a sign of things to come, with speculation brewing that federal prosecutors may soon criminally charge Stanford.
“We’re going to be asking for money to be released either late today or tomorrow,” says DeGuerin, in a phone interview. He says the court filing will also contain some interesting allegations. But he declined to comment further.
BusinessWeek's Adrienne Carter, Jessica Silver-Greenberg, and David Henry deconstruct the mysteries of high finance, Wall Street, and hedge funds for pros and ordinary investors. E-mail them directly if you've got tips about big deals, a hedge fund, or even securities industry gossip.