The top financial regulator in Antigua—who allegedly took hundreds of thousands of dollars in bribes from accused Ponzi schemer Allen Stanford in exchange for hiding the fraud—improperly tried to steer Stanford's assets to a British liquidation firm, according to a ruling by a Canadian court.
Leroy King, who was the head of Antigua's Financial Services Regulatory Commission, sought to put Vantis in charge of Stanford's assets on February 26, even though a U.S. court had already installed Dallas attorney Ralph Janvey as receiver ten days earlier.
The move set up a battle between Janvey and Vantis that continues to this day, with billions of dollars in investor funds caught in the middle, and may have given an ally of Stanford partial control of his assets even though Stanford had been accused of a massive fraud.