US judges delay Stanford release

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US judges have delayed a decision to release Texan billionaire Sir Allen Stanford on bail, after prosecutors argued that he could flee the country.

Bail had been set at $500,000 (£305,000) for the tycoon, who denies 21 charges related to an alleged fraud of $7bn from investors.

But prosecutors opposed his release and judges in Houston, Texas, said they would need to study the objections.

The judges set the next hearing date for Monday.

Sir Allen denies fraud, conspiracy and obstruction related to the alleged fraud.

If convicted on all counts, he could face life imprisonment.

Sir Allen had bail set on Thursday, but prosecutors filed a motion on Friday saying they believed there was a possibility he would flee the country.

Defence lawyers said those claims were exaggerated and that he wanted to stay to clear his name.

District Judge David Hittner granted the prosecution request to delay his release.

In a written order, the judge said: "Defendant Stanford is ordered detained pending this court's ruling on a motion to revoke the release order."