Regulator in Stanford cases fired

The chief financial regulator in Antigua and Barbuda was fired yesterday after he was implicated in an alleged multi-billion dollar fraud case involving Texan Billionaire Allen Stanford.



Leroy King was fired following a meeting of the Cabinet yesterday.



King was initially suspended last Friday after the United States Securities and Exchange Commission said he had helped to keep necessary information from them.



According to the commission, investigations revealed that King deliberately failed to turn over details of the transactions where Stanford defrauded investors in his Stanford International Bank out of billions of dollars.



They are alleging that King received favours in return for withholding information.



King is facing charges brought against him by US prosecutors, for conspiracy to obstruct a SEC investigation.