Cricket tycoon Stanford tries to surrender in Texas

May 1st, 2009 - 12:45 pm ICT by ANI  

Washington, May 1 (ANI): Cricket entrepreneur and alleged fraudster Sir Allen Stanford tried to hand himself in to a US court, but was turned away because there is no warrant for his arrest, his lawyer has said.The Texas billionaire, who is facing civil fraud charges, turned up at the federal courthouse in Houston on Thursday in an apparent show of defiance.

Sky News quoted Dick DeGuerin, Stanford’s lawyer, as saying: “We want the authorities to know that Allen Stanford is going to stand and fight, he’s not going to run.”

Stanford, two other executives and three of his companies are accused by the US Securities and Exchange Commission of an eight billion dollar fraud involving high-yield certificates of deposit (CDs) issued by Stanford International Bank in Antigua.

American regulators claim the businessman and his firms lied to investors about their money being safe. Stanford does not currenctly face criminal charges, but has said he expects to be charged.

His lawyer said he would attempt to turn himself in again next week. (ANI)

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