COMPANIES Federal prosecutors have filed criminal charges accusing Sir Allen Stanford, the Texan billionaire, of taking part in a $7bn Ponzi scheme that also allegedly involved cash payments to a senior Caribbean regulator.
The criminal indictment unsealed in Houston, Texas, on Friday alleged that Sir Allen paid more than $100,000 to Leroy King, former chief executive of Antigua’s Financial Services Regulatory Commission, to carry out sham audits of Antigua-based Stanford International Bank and shield it from regulatory scrutiny.
