By now, we are all too-well versed in the Ponzi scheme, made famous by Texas financier, R. Allen Stanford. In a recent, related event, the top Banking regulator in Antigua & Barbuda was fired days after being charged in connection to the $7 billion aforementioned Ponzi scheme.

In an article from the Wall Street Journal, Antigua & Barbuda dismissed Leroy King, administrator of the Financial Services Regulatory Commission for his involvement in the scandal. “The federal indictment and related Securities and Exchange Commission civil complaint released Friday describe how Mr. King allegedly helped Mr. Stanford conceal his activities from U.S. regulators for $100,000 in bribes.”

To read this article in full, go to http://online.wsj.com/article/SB124580805189045193.html?mg=com-wsj


Posted in: Miscellaneous, Uncategorized on June 24, 2009

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