Dozens of Stanford employees in Antigua let go

April 10, 2009 4:38:16 PM PDT
Dozens of Stanford employees in Antigua have been fired. Stanford is the island's biggest employer. [SIGN UP: Get headlines and breaking news sent to you]

Seventy-seven employees were let go this week from Stanford's international bank and his trust company in Antigua. Last week, 30 workers were laid off.

Antigua's banking regulators have appointed a lawyer from Great Britain as receiver. Houston financier Allen Stanford is accused of running an $8 billion ponzi scheme.

Stanford said earlier this week he expects to be indicted by a federal grand jury in the next couple of weeks.

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