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Friday, December 16, 2011

Leroy King Appeal Hearing Begins

By Martina Johnson - Friday, December 16th, 2011.


ST JOHN’S, Antigua – After waiting nearly a year for a court to hear his appeal against his extradition committal, lawyers for former Chief Executive Officer (CEO) of the Financial Services Regulatory Commission (FSRC) Leroy King yesterday began oral arguments in the High Court.

King is wanted in the United States for his alleged role in the masterminding of the R Allen Stanford US $7 billion Ponzi Scheme.

Appearing before Justice Mario Michel, King’s lawyers Dane Hamilton QC and Dane R Hamilton argued two main points in support of the application for a writ of habeas corpus in a bid to get the court to quash the earlier decision of former Chief Magistrate Ivan Walters.

King, who was also the FSRC administrator, is accused of 10 counts of conspiracy to commit mail fraud, seven counts of conspiracy to commit wire fraud, conspiracy to commit money laundering and conspiracy to obstruct the Securities Exchange Commission (SEC) as an accomplice to Stanford’s alleged crimes.

The complaint accuses King of conducting sham audits and examinations of Stanford International Bank (SIBL), an offshore bank located in Antigua, in exchange for large sums of money and other bribes while he allegedly made sure that the SEC did not peruse the offshore bank’s investment records.

Hamilton QC contended that some of the crime(s) King is accused of are not crimes under the laws of Antigua & Barbuda and as such he has not committed any offence for which he can be extradited.

He also said if the offences existed under the laws of Antigua & Barbuda it must be stated, expressly, that they are extra-territorial as well.

The appellant’s counsel then questioned how it is that King is before the court for conspiracy to commit various types of fraud when no counterpart has been named.

The senior lawyer dismissed information in witness statements of other persons allegedly or admittedly implicated in the fraud and said they were nothing but unsubstantiated hearsay evidence.

Hamilton spent the entire day addressing the court on the aforementioned issues in addition to others and is expected to resume next Wednesday. After that the Director of Public Prosecution (DPP) Anthony Armstrong would respond.

While the matter is ongoing, King would remain on $600,000 bail with strict orders not to leave his home without being accompanied by one of his sureties.

He must also continue to report to the police station nearest his home every day among other conditions.

1 comment:

  1. King's lawyers make an interesting point: Is theft (tevin' in the local venacular), especially from foreigners an actual crime in Antigua? It's been almost three years, and no one has been charged.

    NeedToKnowBasis

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