Former Antigua and Barbuda Regulator Leroy King Sanctioned by SEC for Role in Stanford Ponzi Scheme

The content originally appeared on: Antigua News Room

Leroy King, the former head of Antigua and Barbuda’s Financial Services Regulatory Commission (FSRC), has faced sanctions imposed by the US Securities and Exchange Commission (SEC) due to his involvement in Allen Stanford’s Ponzi scheme.

King was charged with multiple offenses related to Stanford’s $7 billion fraud, leading to his extradition to the US in November 2019 and subsequent guilty pleas.

Sentenced to 10 years in prison in February 2021, King is now prohibited from associating with brokers, dealers, or investment advisers.

His wrongdoing included accepting bribes, facilitating false responses to regulators, and misusing FSRC letterhead in official inquiries.

Stanford, the scheme’s mastermind, received a 110-year prison sentence in 2012.

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