Friday 20 February 2009

Sir Allen Stanford surrenders


Sir Allen Stanford the Texan cricket tycoon accused of orchestrating an $8 billion investment fund fraud, handed himself in to the FBI.The agents served Sir Allen with bundles of legal documents detailing the fraud allegations, plus court papers containing restrictions on his various companies.Sir Allen has been accused of making false claims to investors about the returns he could get for their money.As Sir Allen's financial empire unravelled, depositors across the Caribbean and South America besieged banks he controlled in Antigua, Venezuela, Ecuador, Colombia, Peru and Panama.

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