Antiguan court clears the way for extradition

An Antiguan judge has paved the way for the extradition of former financial regulator Leroy King to the United States.



Mr King was indicted in the alleged US$7 billion Ponzi scheme, orchestrated by jailed Texan financier Allen Stanford.



The committal ruling by Chief Magistrate, Ivan Walters, is likely to be challenged by Mr King\'s lawyers.



Legal experts in the Antiguan capital, St John\'s, say that\'s likely to tie up the extradition process for several months.



Leroy King remains under house arrest.



He was fired as Antigua\'s top financial regulator, after being accused of accepting bribes to turn a blind eye to irregularities in Allen Stanford\'s financial empire.



Mr King also allegedly wrote false and misleading letters to the US Securities and Exchange Commission.