US District Judge David Hittner on Tuesday approved a request by prosecutors to overturn a magistrate judge's decision to allow Stanford to be freed on US$500,000 bond pending his trial.

Prosecutors argue that Stanford's international ties make him a serious flight risk.

Stanford holds dual US and Antiguan citizenship, has an international network of wealthy acquaintances who would help him and possibly access to vast wealth hidden around the world.

Under house arrest

But Dick DeGuerin, Stanford's attorney, says his client is penniless, has never tried to flee and wants to fight the charges against him.

Meantime, a lawyer for the former Antiguan financial regulator who has been implicated in the case against Stanford said he has been released on bond.

But Leroy King remains under house arrest as Antigua processes a request for his extradition to the United States.

Attorney Ralph Francis said last Friday that King posted bond of EC$500,000 - about US$190,800. He is required to check in with police twice a day and cannot leave home except for medical appointments.

King is accused accepting more than US$100,000 in bribes to turn a blind eye to irregularities in Stanford's banking empire.

He was fired by the twin-island government on last Tuesday.

- AP