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Stanford faces $7bn fraud plot charges

FT.com : "US investigators alleged for the first time that last year's £20m Stanford 20/20 cricket tournament involving the England and West Indies teams was funded by money the tycoon stole from his empire.

The conspiracy claims - including the alleged use of Sir Allen's private jets to courier financial records to be burned at his Caribbean headquarters - add baroque detail to a case that has shocked investors and raised worrying questions about market supervision."

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