Prime Minister Baldwin Spencer has issued a warrant ordering the extradition of the former Financial Services Regulatory Commission (FSRC) boss Leroy King to face trial in the US on several charges related to the Allen Stanford US $7 billion Ponzi scheme.

Jurors in the recent trial of convicted Texas financier Allen Stanford say his arrogance and greed as well as compelling evidence by his former chief financial officer were primarily responsible for his conviction and the forfeiture of US $330 million in assets.

Allen Stanford expects to appeal his fraud conviction, his lead attorney has said, moments after a jury found the former financier guilty of masterminding a US $7 billion Ponzi scheme through his Stanford International Bank based here.

“This thing doesn’t bring any real joy… I know what it has done to this country,” Prime Minister Spencer said as he reacted to news that investor Allen Stanford – who at one time was this country’s largest private sector employer – was convicted on charges he masterminded a US $7 billion Ponzi scheme.

High Court Judge Mario Michel yesterday upheld a committal order for extradition to the United States for former head of the Financial Services Regulatory Commission (FSRC) Leroy King to face charges related to Texan investor R Allen Stanford’s alleged US $7 billion Ponzi scheme.

After waiting nearly a year for a court to hear his appeal against his extradition committal, lawyers for former Chief Executive Officer (CEO) of the Financial Services Regulatory Commission (FSRC) Leroy King yesterday began oral arguments in the High Court.

The US Securities and Exchange Commission (SEC) and the Securities Investor Protection Corporation (SIPC) are heading to court to resolve a dispute involving coverage for thousands of victims of Allen Stanford’s alleged US $7 billion Ponzi scheme.