Allen Stanford served civil papers in $8 billion fraud case

Last Tuesday, Allen Stanford, of Stanford Bank was charged with fraud by the SEC. Stanford was served papers yesterday in Virginia.

MSNBC is reporting that the "FBI served civil papers" to the banker, who is accused of trying to bilk 50,000 clients out of $8 billion.

ABC is reporting that U.S. Marshals seized Stanford's assets, and clients have been flocking to Antigua to try and withdraw funds.

ABC is also reporting that Stanford is also under investigation in connection with an alleged drug money-laundering scheme for Mexico's Gulf Cartel.

Stanford's fleet of six private jets were recalled to the corporate hangar at Sugarland Airport outside Houston, including the Bombardier 500 luxury jet that was used exclusively by Stanford.
Stanford's 120 foot yacht, the Sea Eagle Bikini, docked at a marina in St. Croix is also likely to be seized, and SEC attorneys contacted marina owners in St. Croix to determine the precise location of the yacht.

Sean Hannity endorses Stanford's company.
Stanford's victims speak out.