The collapse of disgraced American financier Alan Stanford’s $7B fraud scheme has claimed yet another victim. Leroy King, the former head of Antigua’s Financial Services Regulatory Commission, has been ordered extradited to the U.S. to face allegations that he accepted Stanford’s bribes to facilitate the Ponzi schemers. Kudos to the Antiguan authorities for their zeal in getting to the bottom of this sad chapter, but shame on some members of the media for attempting to pin the blame on someone they exclusively refer to as an Antiguan for a fraud that was hatched, organized and implemented by American citizens in American jurisdictions under the watch of American regulators. Making matters even worse, it turns out that Mr King is also an American citizen so everyone so far implicated in this was an American citizen. Antigua as a country is clearly the biggest victim of these fraudsters. Read more.
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