By TER Staff
Sir Allan Stanford, the Houston billionaire, was charged today along with other executives of his company with running what federal authorities allege was a 7-billion dollar offshore 'ponzi' fraud scheme.
A 21-page federal indictment was unsealed and federal prosecutors detailed their charges in a press release issued by the U.S. Justice Department.
Stanford, who has denied the charges, surrendered to the FBI on Thursday in Virginia and has a hearing scheduled for today.
ABC News' Brian Ross exclusively spoke to Stanford about the case back in April of this year. Stanford vehemently denied the accusations.
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