Houston ? Texas financier R. Allen Stanford, facing trial on charges he swindled investors out of $7 billion, will spend the weekend behind bars after a federal judge Friday ruled to delay his release on bond.

U.S. District Judge David Hittner granted a prosecution request to delay a magistrate’s order granting Stanford a $500,000 bond. Prosecutors say they believe Stanford, who holds Antiguan citizenship and was once considered one of the richest men in America, is a flight risk.

If not for Hittner’s decision, Stanford would have been released from custody on Friday as court records showed the $100,000 in cash that needed to be given for his bond had been paid.

Hittner ordered a hearing for Monday to hear arguments on whether Stanford’s bond should be revoked.