FBI agents locate billionaire Stanford
20-02-2009
FBI agents in the United States have located the Texas billionaire - Allen Stanford - in Virginia. His whereabouts had been unknown for several days, since the US Securities and Exchange Commission accused him of an US$8-billion fraud. Sir Allen disappeared from public view on Tuesday when he was accused of the fraud. The SEC filed a civil case in court describing the case as a "fraud of shocking magnitude". He is not in custody and has not been charged with any criminal violations. But officials from the US Justice Department, which handles criminal prosecutions, have made it clear they are proceeding with their own investigation. An FBI spokesman said that FBI agents, acting at the request of the SEC, had served the papers on Sir Allen in Fredericksburg, Virginia. The Texan cricket impresario is accused of luring investors with promises of improbable and unsubstantiated high returns on certificates of deposit and other investments.
