LONDON (ShareCast) - Texas billionaire and alleged fraudster Allen Stanford has had $100m (£60m) of assets frozen by authorities in the UK.
The funds were seized by the Serious Fraud Office (SFO) following a request from the US Department
of Justice.
Stanford, the man behind last winter's $1m-a-man Twenty20 cricket match between England and the West Indies, is accused of a $7bn investment fraud.
It's emerged that the assets were frozen in April, but details were kept secret until authorities had apprehended Stanford.
He was arrested earlier this month and has pleaded not guilty at the federal court of Houston to charges of fraud, money laundering and obstruction.
"Once we became aware of these assets we moved quickly to seize them," an SFO spokesman said today. "We were pleased that the court acted so fast, so that we got the freezing order within five hours of requesting it."
The assets are thought to have been held at "certain London financial institutions".
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