Leslie Turk

NYT: Allen Stanford, 4 others, indicted

by Leslie Turk

The New York Times is reporting that R. Allen Stanford, the Texas billionaire accused of running a multibillion-dollar Ponzi scheme that defrauded hundreds of investors, and at least four others, including an Antiguan offiicial, have been indicted in the fraud case.

The Times' source is a federal prosecutor who spoke on condition that he not be named. The prosecutor says the Antiguan official, Leroy King, the former head of the Antiguan regulatory agency that oversaw banking on the Caribbean island nation, is accused of accepting a bribe from Stanford.

Read the rest of the story here.