Sir Allen Stanford sees $100 million of UK assets frozen

The Serious Fraud Office (SFO) has today confirmed that over $100 million of assets held in UK, linked to Sir Allen Stanford, have been frozen after a request from the US authority. Sir Allen Stanford is currently under investigation for fraud in US in a scheme which is alleged to have netted him around $7 billion. He recently gave himself up to US authorities and is currently awaiting trial while investigators attempt to locate all of the assets linked to the alleged fraud.



Sir Allen Stanford is currently seeking a magistrate's decision for bail pending a full trial in the not too distant future. Whether he will actually be awarded bail remains to be seen as a number of parties within the US government have expressed concerns that he has contacts and assets which may allow him to leave the country. This, along with the recent Bernard Madoff fraud trial, has cast significant light upon the US regulatory system which many people believe has ultimately failed.



However, this has given the Obama regime the perfect opportunity to introduce a full-scale re-organisation of the US regulatory system which will ultimately give the government a more hands-on approach.