published Thursday, June 18th, 2009

Attorney says Stanford surrenders to FBI in Virginia

DALLAS — The attorney for R. Allen Stanford, chairman of troubled Stanford Financial Group, says the Texas billionaire has surrendered to FBI agents in Virginia.

Houston attorney Dick DeGuerin told The Associated Press that Stanford surrendered Thursday afternoon to FBI agents parked outside a residence where Stanford was staying. DeGuerin said Stanford walked out and asked if the agents had a warrant. He told them to arrest him if they did and that he planned to return to Houston on Friday to turn himself in if they didn’t.

A grand jury in Houston has been investigating Stanford Financial Group. The Securities and Exchange Commission filed civil charges earlier this year accusing Stanford and his top executives of conducting an $8 billion fraud by advising clients to buy certificates of deposit from the Antigua-based Stanford International Bank.

Comments do not represent the opinions of the Chattanooga Times Free Press, nor does it review every comment. Profanities, slurs and libelous remarks are prohibited. For more information you can view our Terms & Conditions and/or Ethics policy.
please login to post a comment

videos »         

photos »         

e-edition »


Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.