Stanford in court on fraud charge

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The plea was made in court in Houston as Stanford waited to hear if he would remain in custody until his trial on a seven billion dollar (£4.2bn) fraud charges.

Meanwhile, Antigua's former chief financial regulator surrendered to face US charges that he aided the alleged seven billion dollar swindle, government officials said.

Leroy King, who will now face extradition proceedings, was taken into custody by island police, according to Anthony Armstrong, the director of public prosecutions for Antigua and Barbuda.

US prosecutors said that as administrator of the Caribbean nation's Financial Services Regulatory Commission, King should have caught the fraud.

He is accused of accepting bribes to turn a blind eye to irregularities.

Stanford was indicted last week on US charges that his banking empire was really a Ponzi scheme built on lies and bribery.

The billionaire and several executives allegedly misused most of the seven billion dollars they advised clients to invest in certificates of deposit from the Stanford International Bank, based on Antigua.

King, 63, faces charges including wire fraud, mail fraud, and conspiracy to obstruct an investigation by the US Securities and Exchange Commission.

He was fired by the twin-island government on Tuesday, and Mr Armstrong said authorities obtained a warrant for his arrest on Wednesday at the request of the US. He said King will be handed over to the Americans once the US sends documents required for his extradition.