ST. JOHN’S, Antigua, Mar 12, CMC – The former administrator of the Financial Services Regulatory Commission (FSRC), Leroy King, has lost in his bid to have his extradition to the United States go before the London-based Privy Council, the island’s highest court.
The Eastern Caribbean Supreme Court of Appeal Monday dismissed his application for the matter to be taken to the Privy Council.
The Court of Appeal had last year also dismissed King’s appeal of a High Court judge’s decision to refuse to grant leave to bring judicial review proceedings challenging his extradition.
In April, 2017, High Court judge Darshan Ramdhani dismissed King’s appeal, saying that he saw no reason why either King’s claim for constitutional relief or the application for leave should be allowed.
King is wanted in the North American country on 11 fraud related charges stemming from the seven billion US dollar Ponzi scheme carried out by Allen Stanford, the American former financier and banker, who is now serving a 110-year prison term in the United States. The United States made its request for his extradition on June 24, 2009.
King was dismissed as the chief financial regulatory advisor after US federal authorities announced criminal charges against him, Stanford and several executives of his financial group.
Antigua and Barbuda was at the heart of Stanford’s business empire, stretching from the Caribbean to the United States, Latin America and Europe, and Washington claimed that the Stanford International Bank Ltd, the island’s biggest bank, sold certificates of deposit that bilked thousands of investors out of billions of dollars.
U.S. authorities allege King received “thousands of dollars in bribes” from Stanford to ensure the Antigua regulatory authority “looked the other way” and conducted sham audits of Stanford’s operations.
The U.S. Securities and Exchange Commission said King, acting as gamekeeper-turned-poacher, helped Stanford and his associates evade and obstruct U.S. probes of the Stanford business empire for several years.
The Court of Appeal said Monday that King’s application did not meet specific requirements set out in the section 122 of the Antigua and Barbuda Constitution, which deals with appeals to the Privy Council.
King’s lawyer was quoted by the media here Tuesday as saying that he intends to make his application for leave directly to the London-based Privy Council.