HOUSTON (June 29, 2009)--A federal judge said he will decide by Tuesday afternoon whether to revoke a bond for indicted Central Texas billionaire R. Allen Stanford that would let him remain free while he awaits trial on charges he swindled investors out of $7 billion.

U.S. District Judge David Hittner heard more than four hours of arguments Monday in which prosecutors asked him to revoke an order granting Stanford a $500,000 bond.

They argued his international ties make him a serious flight risk.

But Dick DeGuerin, Stanford's attorney, says his client, who is broke because all his assets have been seized, has a very strong incentive to stay: so he can clear his name and restore his finances.

A federal magistrate set the $500,000 bond last week, but delayed Stanford’s release in order to give prosecutors time to appeal.

Stanford, who’s from Mexia and once was a businessman in Waco, is a Baylor University graduate.