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R. Allen Stanford
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Texas billionaire might lose assets

PM of Antigua, Barbuda wants to seize property

Updated: Thursday, 26 Feb 2009, 10:43 AM CST
Published : Thursday, 26 Feb 2009, 10:43 AM CST

    ST. JOHN'S, Antigua (AP) - The prime minister of the tiny Caribbean nation of Antigua and Barbuda wants to seize property and assets owned by Texas billionaire financier R. Allen Stanford .

    Prime Minister Baldwin Spencer is urging lawmakers to approve an emergency plan to authorize the seizures. Stanford is Antigua's largest private employer, but he's in trouble with U.S. regulators.

    A court has ordered his assets frozen after regulators accused him and three of his companies of an $8 billion fraud.

     

     

     

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    Copyright Associated Press, Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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