(Antigua Observer) St. John’s, Antigua – A financial crime consultant here says that convicted Ponzi schemer, R. Allen Stanford, has filed a petition for an “en banc” rehearing with the Fifth Circuit Court of Appeals for are hearing of his criminal appeal.
Stanford was convicted for his role in the multi-million dollar Ponzi Scheme involving his Antigua-based Stanford International Bank (SIB).
The Fifth Circuit had affirmed Stanford’s US federal criminal conviction in an opinion on October 29.
Kenneth Rijock, who publishes a financial crime blog, said on Monday that Stanford is requesting that the entire court rehear his case.
Rijock noted that the court’s October opinion was handed down by three circuit judges.
He said Stanford stated in his petition that the October decision “conflicts with other decisions rendered by this Court, also with decisions of other Courts of Appeal, and with decisions of the US Supreme Court.”
Rijock said Stanford is also of the opinion that “this case involves questions of exceptional importance.
“Statistically, most petitions for rehearing en banc present nothing new, and are generally denied,” Rijock said, adding “most of Stanford’s appellate issues were thought to have had no legal basis.”
Stanford is scheduled to be released from jail in 2105, “meaning that he will die while in federal custody,” Rijock said.