FBI find fraud rap tycoon Stanford.SCANDAL-HIT Sir Allen Stanford Allen Stanford[1], [2] is an American billionaire and philanthropist, and is well known as a sponsor of professional sports. He was awarded an honorary knighthood in 2006 by the government of Antigua and Barbuda. was finally tracked down and served with legal papers last night. The tycoon had been missing since being charged with a multi-million-dollar fraud earlier this week. But he was found by the FBI in Fredericksburg, Virginia Fredericksburg is an independent city in the U.S. Commonwealth of Virginia, 50 miles south of Washington, D.C., and 55 miles north of Richmond, Virginia. As of the 2000 census, the city had a population of 19,279. , while driving a car. A spokesman for the FBIstressed the billionaire was not a fugitive and he was "very co-operative". He added: "He wasn't hard to find. We said, 'Are you this guy?', he said, 'Yes', and we served the papers on him." The Texan financier is accused of cheating investors out of pounds 6.5billion. And yesterday, an expert in international fraud claimed US law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). have been suspicious of Stanford's business activities for 15 years. Journalist and author Jeffrey Robinson said he knew Stanford was on "everybody's radar" and the case could have "huge ramifications" for the world of offshore banking. Some involved in the industry would be keen for Stanford, 57, to remain silent about his Antigua banking empire, he added. CAPTION(S): CLAIMS: Stanford |
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