The “massive’’ investment fraud allegedly perpetrated by Sir Allen Stanford, the billionaire Texan, is likely to put fresh pressure on US securities regulators who are still reeling from missing the alleged $50bn Bernard Madoff “Ponzi’’ scheme.

The US Securities and Exchange Commission, which filed civil fraud charges against Sir Allen on Tuesday, says it is moving “quickly and decisively’’ to stop an alleged scheme involving $8bn in certificates of deposit sold through his Antigua-based offshore bank, Stanford International Bank.