NEW YORK: Allen Stanford, the financier accused of running a $7 billion Ponzi scheme, has been denied bail by a federal appeals court.
Monday's ruling by the 5th U.S. Circuit Court of Appeals in New Orleans is the fourth time that Stanford has been denied bail.
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Stanford was moved last month to a prison hospital from jail so he could be treated for an addiction to medication to treat anxiety.
(Reporting by Jonathan Stempel in New York; Editing by Bernard Orr)
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