The former chief financial officer of Stanford International Bank pleaded guilty on Thursday to charges stemming from an alleged $7 billion fraud.

Meanwhile, accused swindler Allen Stanford had been scheduled to appear in court on Thursday but was taken to a hospital in Conroe, Texas, earlier in the morning due to an extremely high pulse rate and an irregular heart rhythm, Judge David Hittner said in a court hearing.

James Davis, who has been cooperating with federal prosecutors, entered the plea in federal court in Houston.

He faces a maximum of 30 years in prison on the conspiracy, fraud and obstruction charges.

(Reporting by Anna Driver and Erwin Seba in Houston, editing by Gerald E. McCormick)