The Wall Street Journal is reporting that former Stanford executives will be charged within days for their part in the scheme that landed Allen Stanford in jail.

In a blow to the victims of Allen Stanford’s $7 billion Ponzi scheme, a federal district judge ruled on Tuesday that US securities regulators cannot force an industry-backed fund to start court proceedings so that victims can file claims.

R Allen Stanford, the one-time Caribbean banking tycoon found guilty of leading a $7 billion investment fraud through his Antiguan bank, asked a US judge for a new trial, claiming the original proceeding was unfair.

Former head of the Financial Services Regulatory Commission (FSRC) Leroy King has failed in another attempt to evade his extradition to the US on charges linked to the Allen Stanford $7 billion Ponzi scheme.

James Davis, the former Stanford Financial Group Co finance chief, testified as a government witness that R Allen Stanford, the company founder, conspired with him in an investment fraud.

A fresh attempt has been made to delay the trial of accused Ponzi schemer Allen Stanford who was Thursday found mentally fit to defend himself.

United States and Antiguan-appointed receivers for disgraced Texas financier Allen Stanford’s holdings vied in court for control of Stanford’s assets as investors await payment for losses in his alleged US$7 billion Ponzi scheme.

The power to conduct an examination of Stanford International Bank Limited (SIBL) never resided with Leroy King. This is according to attorney Dane Hamilton QC, who is defending King is his extradition matter.

The Official Stanford Investors Committee asked the US Justice Department to repatriate $330 million frozen in indicted financier R Allen Stanford’s foreign bank accounts as suspected criminal proceeds, even though the funds are legally controlled by Stanford’s Antiguan receiver.

Victims of Allen Stanford’s alleged $7.2 billion Ponzi scheme may soon have a chance to submit claims, though it remains unclear how much of their losses they might ultimately recover or when that recovery might take place.