Britain Seizes $100M In Stanford-Related Funds

Law360, New York (June 30, 2009, 12:00 AM EDT) -- At the behest of the U.S. Department of Justice, the U.K. has frozen $100 million connected to a $7 billion fraud scheme purportedly engineered by billionaire financier Robert Allen Stanford.

Britain's Serious Fraud Office on Tuesday revealed that it had received a restraining order in April that allowed the agency to hold the assets, which are spread throughout various London financial institutions.

"These funds were allegedly acquired in connection with a suspected $7 billion investment fraud scheme operated by Stanford," the office said.

The DOJ's formal...
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