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Antigua Cans Financial Regulator

CaribWorldNews, ST. JOHN`S, Antigua, Weds. June 24, 2009: Head of Antigua and Barbuda`s Financial Services Regulatory Commission, Leroy King, has been dismissed from his post by the country`s government.

King`s dismissal comes just days after his June 19th indictment on bribery charges in the ponzi case against Allen Stanford and just four days after he was suspended from the post.

Antigua and Barbuda`s Attorney General, Justin Simon, told Reuters that the dismissal comes as he has received from U.S. authorities a request that King be detained pending a formal extradition process.

King is alleged to have, among other things, facilitated the Stanford International Bank`s Ponzi Scheme `by ensuring that FSRC `looked the other way`, and conducted sham audits and examinations of SIB`s books and records in exchange for bribes paid to him over a period of several years.`