New York, January 23 (FinanceEnquiry.com) - As the trial into the $7 billion investment fraud is set to begin today, accused R. Allen Stanford has claimed amnesia. He appears to be a completely different person from the time when he was indicted by prosecutors in June 2009. At that time, the Stanford Group Co. founder was estimated to be worth $2.2 billion by Forbes.

He vowed at that time to repay more than 20,000 investors, who had allegedly been defrauded by him through bogus certificates of deposit at Stanford International Bank Ltd. He had also promised to clear his name and reclaim assets that were seized by regulators.

However, since that time, Stanford has had many setbacks and spent time in jail because he was suspected to be planning to flee. In September 2009, he had a fight with another inmate and suffered broken facial bones. He also got addicted to anti-anxiety medications and now claims that he cannot remember much of his life or his business empire.

Stanford’s entire defense team has tried to quit this month, saying that they could not continue to defend him against charges that may imprison him for more than 20 years. If he is convicted, prosecutors said they would try to keep him in prison for the rest of his life. Even if he is acquitted, his wealth will not be returned to him.