Indictment alleging securities fraud and money laundering in USA v. Robert Allen Stanford, Laura Pendergest-Holt, Gilbert Lopez, Mark Kuhrt, and Leroy King at the U. S. District Court for the Southern District of Texas.
For the second time in 19 years, an offshore bank controlled by Allen Stanford is being investigated by regulators. In the late 1980s, his Montserrat-licensed Guardian International Bank voluntarily surrendered its license, rather than have it forcibly revoked by the local authorities as part of a general clampdown against approximately 300 banks licensed in the jurisdiction.
A report that we have been told was paid for by powerful banker Allen Stanford and presented to the Antiguan government in January of this year as part of the review of Antigua's offshore financial services sector contained a recommendation that would have severely hindered efforts to combat rampant white-collar crime.