HOUSTON (AP) — A federal judge yesterday revoked the bond of Texas financier Allen Stanford, ordering he be kept in jail while he awaits trial on charges alleging he swindled investors out of $7 billion.

US District Judge David Hittner issued an order overturning a magistrate judge's decision last week to allow Stanford to be free on $500,000 bond but be under GPS monitoring and home detention. Stanford has been in custody since being indicted and arrested June 18.

It was not immediately known if Stanford's attorneys would appeal the decision.

Hittner's written decision came after a four-hour court hearing on Monday.

Prosecutors, who appealed last week's decision to grant Stanford a bond, told Hittner the financier is a serious flight risk because of his international ties — including holding dual US and Antiguan citizenship, having an international network of wealthy acquaintances and possibly having access to vast wealth hidden around the world.

Prosecutor Gregg Costa argued these international ties differentiate him from other high-profile fraud defendants, including former Enron Corp. executives Jeffrey Skilling and Ken Lay, who were freed on bond before their trials.

Stanford and three executives of his now defunct Houston-based Stanford Financial Group are accused of orchestrating a massive Ponzi scheme by misusing most of the $7 billion they advised clients to invest in certificates of deposit from the Stanford International Bank on the Caribbean island of Antigua.

But Dick DeGuerin, Stanford's attorney, says his client is penniless, has never tried to flee and wants to fight the charges against him. He denied prosecutors' claims Stanford has access to secret wealth stolen from investors and said his client ran a legitimate business.

DeGuerin also told Hittner his client, who hadn't resided in the US in 15 years, now lives in Houston, has strong family ties here and on several occasions before his indictment tried to turn himself in to show he doesn't plan to be a fugitive.

Stanford was considered one of the richest men in America with an estimated net worth of more than $2 billion. But DeGuerin said his client's family and friends had to scramble to gather the $100,000 in cash needed for his bond.

Stanford and executives Laura Pendergest-Holt, Gilberto Lopez and Mark Kuhrt pleaded not guilty last week to charges filed in a 21-count indictment.

Also indicted is Leroy King, the former chief executive officer of Antigua's Financial Services Regulatory Commission. King, accused of taking bribes from Stanford to overlook irregularities at his bank, is awaiting extradition to the United States.

Stanford and his co-defendants are charged with wire fraud, mail fraud, conspiracy to commit mail, wire and securities fraud and conspiracy to commit money laundering.

Stanford, Pendergest-Holt and King are also charged with conspiring to obstruct a Securities and Exchange Commission investigation and obstruction of an SEC investigation.

Investigators say even as Stanford claimed healthy returns for investors, he was secretly diverting more than $1.6 billion in personal loans to himself that were used to pay for his lavish lifestyle, including six private jets, a helicopter and homes in Miami and St. Croix.

¿ Britain froze $100 million linked to Stanford within five hours of a request from the US Department of Justice, anti-graft officials said yesterday.

Britain's Serious Fraud Office (SFO) said yesterday that it had obtained a restraining order on assets believed to be held by financial institutions in London on April 7.

"These funds were allegedly acquired in connection with a suspected $7 billion investment fraud scheme operated by Stanford," the SFO said in a statement.

The SFO said it felt able to release details of action taken by British authorities because Stanford had now been taken into FBI custody as part of a criminal investigation.

SFO Director Richard Alderman said he was determined such cross-border support for US authorities became routine.