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Indictment of Antigua’s Top Regulator Raises Questions About Island’s Credibility
By Larissa Bernardes
printIn another serious blow to Antigua and Barbuda's reputation, a Houston court indicted the island's top regulator last week, calling to question the credibility of its financial regulatory system. Leroy King, former head of Antigua's Financial Services Regulatory Commission (FSRC), allegedly accepted bribes in exchange for helping billionaire Robert Allen Stanford disguise a $7 billion Ponzi scheme, according to court documents filed last Thursday. King, a former Bank of America employee with dual U.S.-Antiguan citizenship, appeared in court Thursday, according to media reports. A conviction for King would be "devastating to regulatory supervisors," according to Kenneth L. Bryant, managing director...
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