Antigua fires regulator accused of helping Stanford fraud

June 23, 2009 9:37:07 PM PDT
Antigua and Barbuda fired its chief financial regulator tonight, four days after U.S. prosecutors charged that he accepted more than $100,000 in bribes to help Texas billionaire R. Allen Stanford with an alleged $7 billion swindle. Attorney General Justin Simon announced the Cabinet decision in a brief statement.

He said the government accepted the recommendation of the country's Financial Services Regulatory Commission that Leroy King be dismissed innmediately.

Stanford was indicted Friday on U.S. charges that his tropical banking empire was really just a Ponzi scheme built on lies and bribery.

The U.S. Justice Department announced charges against Stanford and six others -- including King -- who allegedly helped the tycoon run the alleged fraud.

King, contacted today before Simon's announcement, said he had no comment.

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