The former chief of Antigua s Financial Services Regulatory Commission (FSRC) was sentenced today to 10 years in prison for his role in connection with a $7 billion Ponzi scheme involving the Stanford International Bank (SIB).
Leroy King of Dickerson Bay, Antigua, pleaded guilty on January 30, 2020, to one count of conspiracy to obstruct justice and one count of obstruction of justice for his role in obstructing the Securities and Exchange Commission (SEC) investigation into SIB. He was extradited to the United States in November 2019. King is a dual citizen of the United States and Antigua. Beginning in approximately 2002, he served as the administrator and CEO of the FSRC, an agency of the Antiguan government. As part of his duties, he was responsible for Antigua s regulatory oversight of Stanford International Bank Limited s (SIBL) investment portfolio, including the review of SIBL financial reports and responses to requests by foreign regulators, including the SEC, for informat