US regulators suspected Stanford in 1997 – Business News, Business – The Independent

by Jonathan

American regulators had concluded in 1997 that Allen Stanford, the sports-mad financier who bankrolled English cricket, was probably a fraudster, but they didn't charge him for 12 more years because it was too complicated a case.

Mr Stanford’s financial empire was hidden largely offshore in Antigua, where he received a knighthood from the government for his services to the economy and to cricket. He was finally arrested last year and is awaiting trial in his native Texas, having denied fraud.

via US regulators suspected Stanford in 1997 – Business News, Business – The Independent.