Posted: Feb 8, 2012 9:33 AM by AP
HOUSTON (AP) - The top money man for jailed Texas tycoon R. Allen Stanford has been called everything from a liar to a tax cheat during relentless questioning by an attorney for the financier. James M. Davis, the former chief financial officer for Stanford's companies, has told jurors at the financier's fraud trial in Houston that he is telling the truth. Davis is the prosecution's star witness. He's set to resume testifying Wednesday. Prosecutors claim Stanford bilked investors out of more than $7 billion in a Ponzi scheme centered on the sales of certificates of deposit from his Caribbean bank on the island nation of Antigua. Stanford's attorneys claim Davis was behind the fraud and is lying to get a reduced prison term.
Davis has pleaded guilty in a deal with prosecutors.