A fraudster billionaire faces low bail -- and a pro golfer tries to help


In what should come as a shock to no one, accused swindler Allen Stanford pleaded not guilty to fraud charges in Texas yesterday. The U.S. Magistrate judge who decided Stanford's fate determined that a $100,000 cash deposit and a plan to pay $500,000 was enough for bail (although some outlets are reporting $2 million as the bail).

So Stanford was set to walk free last night -- that is, until the government stepped in. Judge Frances Stacy then stayed the issuance of Stanford's bond because the government feels that the oh-so honest businessman is a flight risk. It appears that a decision will come later today, as the judge put her order releasing Stanford on hold until 4:30 p.m.