Leroy King, the former head of Antigua's Financial Services Authority (FSA), the country's banking regulator, reportedly faces imminent extradition to the United States, after the Privy Council, the country's court of last resort, declined to rule in his favor, and sent the case back down to enforce the Extradition Order.
King's case has been pending for ten long years, after an infinite number of unexplained cout delays, repeated judicial reassignments, appeals filed allowed by the judges which were not authorized by law, and obvious government influence upon the judiciary, all contributed to justice denied, and which demonstrated Antigua's corrupt judicial system, and lack of adherence to the Rule of Law. The case may have contributed to a decline in foreign investor confidence in the country, and decreased foreign investment in recent years., which has negatively impacted Antigua's anemic economy.
Some observers still believe that King will never be extradited to the US, where he faces what amounts to a Life Sentence, for his central role in in the Stanford International Bank multi-billion dollar Ponzi scheme. While FSC head, he held US regulators at bay for years, allowing Allen Stanford to perpetrate a Ponzi scheme exceeded only by Bernard Madoff's in scope and duration.
It is alleged that he could implicate very senior present and prior members of Antigua's government, and some experienced Antigua watchers doubt that King will actually be extradited; they worry that he faces physical danger, given what previously happened to the country's UN diplomat, who was believed to have evidence of official corruption at the highest level when, facing sentencing in an American court, he died under suspicious circumstances.
Will Leroy King actually be extradited to the United States, and tried in Federal Court in the State of Texas for his crimes ? We cannot say, so please stay tuned.
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