Sir Allen Surrenders


CaribWorldNews, DALLAS, TX, Fri. June 19, 2009: U.S.-born, Antiguan citizen, Sir Allen Stanford is now in custody after surrendering Thursday to FBI agents.

Stanford, chairman of the Stanford Financial Group which is under investigation, is set to appear in federal court in Richmond, Virginia this morning.

It is unclear what the charges will be since a grand jury yesterday returned a sealed indictment against him, his lawyer said. The indictment will be unsealed in court today.

The Securities and Exchange Commission in February filed only civil charges against Stanford and two top executives, accusing them of conducting an $8 billion fraud that was a massive Ponzi scheme.

Stanford has maintained his innocence.

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CaribWorldNews, WASHINGTON, D.C., Fri. June 19, 2009: Sir Allen Stanford once held command of a multi-billion dollar empire, doled out millions to raise his public image as a sports enthusiast and for him, Caribbean heads of state were just a phone call away. But on Friday, Stanford was indicted on […]