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Experts: Texas tycoon's testimony not worth risk

Texas tycoon Stanford faces ultimate sales pitch in weighing whether to testify in own defense By The Associated Press

HOUSTON (AP) ' If Texas tycoon R. Allen Stanford decides to testify in his ongoing fraud trial in Houston, it could be the most important sales pitch he's ever had to make.

And the reward won't be financial but something far more valuable right now for Stanford: his freedom.

Legal experts say while there is a high reward for Stanford if he testifies, it is also a huge gamble that ultimately is not worth the risk. There are concerns the larger than life businessman could come across as arrogant and be unable to reasonably explain where investors' money went.

Prosecutors claim Stanford bilked investors out of more than $7 billion through the sales of certificates of deposit from his Caribbean bank.

Stanford's attorneys have blamed his ex-chief financial officer for the alleged fraud.

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