Accused Texas financier Stanford hospitalized

Texas financier R. Allen Stanford, currently jailed on charges accusing him of bilking investors out of $7 billion, has been taken to a hospital.

Stanford was set to appear in a Houston federal courtroom Thursday for a hearing on whether he can get a new attorney.

But his current attorney, Dick DeGuerin, said that about 5:30 a.m. Thursday, Stanford was taken from the privately run prison where he is being held in the Houston area to a hospital in nearby Conroe with a high pulse rate.

DeGuerin said he did not have any other information about Stanford's condition. The hearing is still set to be held Thursday.

Stanford's former chief finance office, James. Davis, is also set to appear in court to change his plea to guilty for his role in the multibillion dollar Ponzi scheme that authorities say was perpetrated by Texas financier Stanford's business empire.

Davis is scheduled to change his plea to guilty for his role in helping bilk investors out of $7 billion. Davis is the former finance chief of Stanford's business empire.

His attorney David Finn has said Davis cooperated with prosecutors and the guilty plea is part of a deal with the Justice Department.

Davis, along with Stanford and others, are accused of advising clients to invest in certificates of deposit from the Stanford International Bank in the Caribbean island of Antigua. Prosecutors say they misused the money.

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