Allen Stanford rushed to hospital

HOUSTON. Allen Stanford, who was rushed to the hospital with an elevated pulse shortly before he was to appear in court on Thursday, must remain hospitalized several days for observation, his lawyer said.

“We’re told the doctor wants to keep him in the hospital for observation for three to five days,” attorney Dick DeGuerin said in an e-mail, adding that he had no other information.

Meanwhile, Ralph Janvey, the court-appointed receiver for businesses owned by Allen Stanford, is spending so much money while recovering so few assets that nothing may be left for defrauded customers, an investors’ advocate said. Janvey claims to have recovered $81.1 million during 23 weeks of marshalling assets to repay investors allegedly bilked in a scheme involving Stanford’s Antiguan bank, according to John J. Little, the court-appointed examiner representing investors’ interests.

The Panama Stanford Bank branch is still up for sale. A Venezuelan group was the latest corporation to show interest to purchase the bank.