Everything Caribbean

Stanford judge to preside over Leroy King trial in April

0


Alleged fraudster Leroy King is set to stand
trial in Texas on April 6 – before the same judge who sentenced Allen Stanford
to 110 years in prison.

King – the former chief of the Financial
Services Regulatory Commission (FSRC) in Antigua and Barbuda – is the only
remaining defendant in a $7 billion investment fraud scheme involving Stanford
International Bank.

King, of Dickenson
Bay, had been a fugitive since 2009, when a jury returned an indictment against him,
charging him on 21 counts of conspiracy to commit mail, wire and securities
fraud, between 2002 and 2008, in violation of US law.

Subscribe to our newsletter
Subscribe to our newsletter

He is facing seven counts of wire fraud, 10
counts of mail fraud, one count of conspiracy to obstruct justice and
obstruction of a Securities and Exchange Commission
(SEC) investigation.

He is also charged with conspiracy to commit
money laundering.

King is accused of accepting more than
$100,000 in bribes from Stanford in exchange for ignoring the actual value of
the bank’s assets.

Authorities believe he also assisted Stanford
and others in obstructing the SEC’s investigation into the bank.

- Advertisement -



Source link

Comments
Loading...