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Allen Stanford Expects to be Indicted in Two Weeks

Written by:

Jagajeet Chiba

Published on:

Apr/06/2009

International financier and Antigua's biggest banker, Allen Stanford, said in an interview Monday that he anticipates being indicted within the next two weeks. Stanford cried, denied and threatened to punch the ABC News interviewer in the mouth. He is accused of running a ponzi scheme.

When news first broke last month, the online gambling haven of Antigua quickly shut down Stanford's bank there, causing widespread panic. The online gambling companies that do banking in Antigua, many of which are located outside the tiny island nation, were spared. Stanford, a staunch Southern Baptist, refused to conduct business with anybody even remotely associated with gambling.

Stanford once ranked as the 405^th wealthiest person in the world according to Forbes.

"I'm the maverick rich Texan where they can put the moose head on the wall and that is the only reason they went after me," he said during the tearful interview. "I'm fighting for my survival and my integrity."

The SEC says it has recovered only $500 million connected with the scheme.

Jagajeet Chiba, Gambling911.com

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