As Jury Deliberates, Federal Judge Dismisses All Charges in Stanford Document-Shredding Case
In the latest blow to U.S. Department of Justice prosecutors pursuing high-profile charges, a federal judge today dismissed the obstruction and conspiracy case against two men accused of ordering the destruction of documents related to R. Allen Stanford’s alleged $7 billion Ponzi scheme.
Citing a lack of intent as he took the case away from the Southern District of Florida jury deliberating the fate of Thomas Raffanello and Bruce Perraud, Judge Richard Goldberg said the government had not proven its allegations that the two former Stanford Financial Group security officers deliberately destroyed evidence sought by the U.S. Securities and Exchange Commission, reports Bloomberg.
“I’m not taking this lightly,” said Goldberg, in an apparent ruling from the bench in open court in Miami today. “As to the necessary element of intent included in every charge, the evidence is substantially lacking.”
The judge, who had earlier characterized the prosecution case as “thin,” made his ruling after a note from the jury suggested that it might be considering convicting at least one of the defendants on some, but not all, of the charges in the case, reports the Associated Press.
If convicted on all charges, the defendants could have been sentenced to as much as 40 years in prison. They expressed relief at the judge’s decision and the prosecution expressed disappointment.
However, the Miami Herald (reg. req.) reports that an unidentified juror said the 12-member panel was leaning toward acquitting both defendants after two days of deliberations.
“I’ve been a federal agent for 30 years and I believe in this country and I believe in the truth,” said the 61-year-old Raffanello, a former U.S. Drug Enforcement Administration bureau chief in Miami who went on to work as Stanford’s security chief. “On the 22nd of February, I’m taking my infant daughter to Disney World.”
Earlier coverage:
Bloomberg: “Stanford Workers Illegally Shredded Files, Jury Told”
Updated at 4:50 p.m. to add information from Associated Press coverage and at 5 p.m. to add Miami Herald coverage.
