Former Antigua Commish In Stanford Case Under House Arrest


CaribWorldNews, ST. JOHN’S, Antigua, Mon. June 29, 2009: Leroy King, the former Antiguan financial regulator accused in the alleged $7 billion swindle by Texas billionaire R. Allen Stanford is now under house arrest.

King, who was fired from his post last Tuesday and arrested Wednesday was released on about US$190,800 bail Friday but placed under house arrest.

He is required to check in with police twice a day and cannot leave home except for medical appointments.

King is accused of accepting more than $100,000 in bribes to turn a blind eye to irregularities in Stanford’s banking empire. U.S. federal prosecutors are reportedly preparing to extradite him to the U.S. to answer charges.

Stanford is set for another hearing today to determine whether he will be released on bail pending his trial.

Next Post

The Upcoming CARICOM Heads Of Govt. Summit

By David Jessop CaribWorldNews, LONDON, England, Tues. June 30, 2009: In a few days time, Caribbean heads of government will meet in Georgetown, Guyana. There they will try to address an ever-increasing list of unresolved issues. This will be an important moment as many in the region and beyond will be […]