The police have arrested the local fraud accused in the Stanford Ponzi scheme, Leroy King, as the extradition process continues to drag on.
Lawmen picked up the former chief of the Financial Services Regulatory Commission earlier today “for extradition purposes”, according to police sources.
His lawyer, Dr. David Dorsett, confirmed this moments ago.
He also told OBSERVER media that he filed an appeal to the recent case that King lost in the Court of Appeal, and he ought not to removed with a case pending.
Last week, King lost his latest attempt to stop his extradition to the United States for fraud related charges in connection with the Allen Stanford Pontiac Scheme.
The Court of Appeal dismissed his allocation during a hearing in St. Kitts.
King is the former administrator of the Financial Services Regulatory Commission (FSRC) and he is facing 11 wire and mail fraud charges for allegedly facilitating the US $7 billion Ponzi scheme by Allen Stanford.
He has been challenging his extradition since April 2010.
More details to come in a follow up report.