Leroy King is the administrator and chief executive officer of Antigua’s
Financial Services Regulatory Commission (FSRC). He has been charged with
“accepting thousands of dollars per month in bribes to ignore the Stanford
Ponzi scheme and supply Stanford himself with confidential information about the SEC’s investigation.”
Source SEC: SEC Charges Two Accountants and Antiguan Regulator for Roles in Stanford Ponzi Scheme
The SEC also charged Leroy King, the administrator and chief executive officer of Antigua’s Financial Services Regulatory Commission (FSRC), for accepting thousands of dollars per month in bribes to ignore the Stanford Ponzi scheme and supply Stanford himself with confidential information about the SEC’s investigation. King obstructed the SEC’s case since 2005, when its investigation into Stanford began.
“Instead of buying the safe and sound investments he promised his clients, Stanford bought Antigua’s top securities cop,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “While Stanford quarterbacked his massive Ponzi scheme, he paid the referee to spy on the huddles and provide an insider’s play-by-play of the SEC’s investigation.”
Use of Private Jet
Stabroeknews.com-2009/06/20: Accused Antigua regulator gave Stanford clean bill
As a reward, the SEC says, King received cash bribes, and other
inducements, such as the use of Stanford’s fleet of private jets, the use of a corporate car from Stanford’s bank, and tickets to the 2004 Super Bowl.
Yet in an interview with Reuters on Friday, Feb. 13, when media reports were swirling that Stanford’s financial network was tottering and investigators were closing in, King insisted he had “no credible information” that SIB was not sound.
He said the last check on the bank had been “satisfactory.”
Politicians have to be careful when they accept rides on private jets!
In 2008, Antigua’s Online Gambling System was praised
Antigua – World’s First Online Gambling Jurisdiction
By: Racheal Adams, Wednesday November 12th 2008
The reason that Antigua is one of the best gaming jurisdictions is that it enforces corporate integrity and best management practices in its licensees. It has a three-pronged focus that includes prevention of money laundering, enhancement of the online gambling industry and above all player protection. Some of the notable practices that the licensees of Antigua have to follow are establish procedures regarding “Know Your Customer” and have their accounts audited by external auditors who also have to certify their solvency, safety, player protection and compliance with the regulations of the jurisdiction.
Antigua’s Online Gambling System was Supported by CARICOM
In the 28th yearly CARICOM summit that has been going on since Sunday the agenda was weighted towards international trade. Of particular importance at the summit was Antigua & Barbuda’s issue over Internet gambling with the United States.
CARICOM is composed of nations of the Caribbean and West Indies and include Antigua & Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines,
Suriname and Trinidad & Tobago.
At the summit nations expressed their strong support with Antigua over the Internet gambling matter.
Today Antigua is in Trouble
Antigua Takes Major Blow To Online Gambling Industry
“The news of Leroy King’s involvement in illegal activity could hurt the
reputation of the Antigua online gaming industry,” said observer Barney
Corral, “if that reputation is destroyed, online operators would no longer
consider Antigua as a place to open their businesses.”
Will CARICOM Continue to Support Antigua? Are Other Islands Involved?
Here is a Barbados-Antigua gambling connection, D’ Fast Lime:
D’ Fast Lime is a Casino in Christ Church, Barbados and is open daily 24 hours. The casino’s gaming space features twenty-five gaming machines. The property has one bar.
The website of this “Casino” is given as www.sunnycasinos.com/fastlime.html
The About Us page ( http://www.sunnycasinos.com/aboutus.html)
of the above has:
The Sunny Casinos were among the first casinos on the Internet.
The Casinos are licensed by the Gaming Commission of the government of Antigua and Barbuda. You
can get details of the Antigua and Barbuda Gaming Commission at the following link: www.Antiguagaming.gov.ag
