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Article: Cricket mogul Stanford to be stripped of knighthood over Ponzi scam.
- Article from:
- Asian News International
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ANI
London, Nov. 3 (ANI): Texan cricket tycoon Allen Stanford who is being investigated by the FBI for running a 7 billion dollar Ponzi scheme, will be stripped of his knighthood in Antigua and Barbuda.
The Telegraph quoted Jacqui Quinn-Leandro, the chairman of the Caribbean country's National Honours Committee, as saying that the nation voted unanimously to revoke his title for "embarrassing the nation" by running the scheme out of his Antigua-based offshore bank.
"It's not that we're saying he's guilty, but it's the honour that has been brought into disrepute," Quinn-Leandro added.
Stanford is in jail in Texas awaiting ...