Fri | Dec 13, 2019

Former Antiguan business head arrested

Published:Thursday | June 25, 2009 | 1:02 PM

The former head of the Financial Services Regulatory Commission (FSRC) in Antigua has surrendered to authorities less than 24 hours after a magistrate approved a warrant for his arrest.

A law enforcement source told the Caribbean Media Corporation that Leroy King turned himself in early this morning.

He is due to answer to fraud charges in the US.

He was fired as the FSRC’s chief executive officer on Tuesday after a review of his situation by the Antiguan government.

Last Friday, King was indicted on charges for his supposed involvement in an alleged $7 billion investment fraud orchestrated by Texan financier Sir Allen Stanford.

The US Securities and Exchange Commission has accused King of helping the 59 year old billionaire investor in exchange for bribes.

He should be extradited to the US to face the charges.