March 3, 2009 / 9:43 PM / 9 years ago

Billionaire Stanford retains lawyer in SEC case

<p>Texan billionaire Allen Stanford talks during an interview in Miami in this May 1, 2008 file photo. REUTERS/Joe Skipper</p>

HOUSTON (Reuters) - Allen Stanford hired a Dallas lawyer to represent him in a case where he is accused of an $8 billion fraud by the U.S. government, court records showed.

Texan billionaire Stanford, two top aides and three of his companies are accused of a long-running Ponzi scheme by the U.S. Securities and Exchange Commission involving high-yield certificates of deposit.

Stanford, who was served with a summons by FBI agents on February 19 in Virginia, has yet to respond to the charges by the SEC and has maintained a low profile. He does not face criminal charges.

Court records show the flamboyant billionaire has retained Charles Meadows, a partner at a Dallas law firm and fellow alumnus of Baylor University. According to the firm’s website, Meadows specializes in white collar cases and civil and criminal tax litigation.

A call to Meadows was not immediately returned. Meadows told the Houston Chronicle that he so far was hired to represent Stanford at a hearing in Dallas on Monday, but they were in discussions about additional work.

Reporting by Anna Driver in Houston; Editing by Bernard Orr

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