Laura Pendergest-Holt, an executive accused of obstructing the $8 billion R. Allen Stanford fraud investigation, will go free after she posts a $300,000 bond, a judge in Houston ruled today according to Reuters.
Pendergest-Holt, 35, had been arrested by the FBI on Thursday. She is the Chief Investment Officer of Stanford Financial Group.
U.S. Magistrate judge Mary Milloy set the bond at $300,000 after prosecutors had first as for a one of $1 million, according to Reuters.
Her employer R. Allen Stanford, has been accused of perpetrating a massive Ponzi scheme which involved misappropriation of investor funds and the falsification of financial statements.