HOUSTON/ST JOHN’S (Antigua): Texas billionaire Allen Stanford and three of his companies were charged with “massive” fraud on Tuesday as federal agents swooped on his US headquarters.
In a civil complaint filed in federal court in Dallas, the US Securities and Exchange Commission accused Stanford, a high-profile cricket promoter, and two executives of fraudulently selling US$8bil in high-yield certificates of deposit in a scheme that stretched from Texas to the Caribbean.
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