Missing billionaire found in Virginia: The FBI locates and officially serves papers to financier Robert Allen Stanford, who is accused of running a $9.2 billion investment fraud scheme. Federal agents have located financier Robert Allen Stanford and served him with papers accusing him and three of his companies of orchestrating a $9.2 billion investment fraud scheme, the FBI said Thursday.
Stanford, who was located in Fredericksburg, Virginia, has no criminal charges pending against him and was not taken into custody, FBI spokesman Richard Kolko said. But the Securities and Exchange Commission says Stanford was behind 'a fraud of shocking magnitude,' and the FBI served him a copy of the SEC complaint, Kolko said.
Stanford, who was located in Fredericksburg, Virginia, has no criminal charges pending against him and was not taken into custody, FBI spokesman Richard Kolko said. But the Securities and Exchange Commission says Stanford was behind 'a fraud of shocking magnitude,' and the FBI served him a copy of the SEC complaint, Kolko said.
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