Antigua fires finance regulator

Antigua and Barbuda has fired its chief financial regulator, who has been accused of accepting bribes from Texan billionaire Sir Allen Stanford.

Sir Allen was charged last week with fraud and obstruction related to a $7bn (£4.2bn) scheme to defraud investors.

Leroy King, 63, the former head of Antigua’s financial services regulatory commission, was also charged.

Antigua’s attorney-general said that Mr. King left the commission with immediate effect.

Sir Allen’s bank, Stanford International Bank, was located in Antigua.

Fraud accused

He and several co-conspirators are accused of a scheme to defraud investors who purchased certificates of deposit from the bank.

He was indicted on 19 June in Virginia and has since been returned to Texas, where he will face a full detention hearing.

Sir Allen vigorously denies allegations of financial wrongdoing.

Mr King has been suspended from his duties as administrator from the finance commission since March.

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