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Browse: Home / 2010 / February / 09 / Motion to Dismiss Denied in Stanford Shredding Trial

Motion to Dismiss Denied in Stanford Shredding Trial

By Securities Docket on February 9, 2010, 6:36 pm

The trial of two former Stanford Financial Group Co. employees charged with illegally shredding documents sought by the SEC in the Stanford case will continue, as the court denied a defense motion for acquittal today.

Before denying the motion, U.S. Judge Richard W. Goldberg in Miami questioned the prosecutors’ ability to prove intent and called their evidence “precious thin.” According to Bloomberg, the judge indicated that he would allow the defense to renew its motion later in the case.

Bruce Perraud and Thomas Raffanello are the first defendants to face trial on charges related to the Stanford investment fraud scandal and face up to 40 years in prison if convicted on all four counts against them.

Read the Bloomberg article

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Posted in Criminal | Tagged Stanford Financial, Trials

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