FBI agents have served legal papers on Texan billionaire Sir Allen Stanford in connection with an alleged eight billion dollar fraud after tracking him down in Virginia.
He’s been accused by the US Securities Exchange Commission in a civil court case.
Meanwhile the Venezuelan government has seized a commercial bank owned by Stanford.
Officials took over the commercial bank to stem huge online withdrawals.
Venezuelan Finance Minister Ali Rodriguez said:
“Action taken by the Venezuelan government is guided exclusively by the interests of people who have savings. That’s why the decision has been made to immediately sell the bank.”
Mexico, Panama, Ecuador and Antigua in the Caribbean have also acted against Stanford’s businesses. The Stanford Group assets have been frozen by the US judge.
Britain’s Serious Fraud Office is monitoring a possible UK link after media reports the cricket impressario’s books were audited in Britain.