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Page last updated at 16:46 GMT, Friday, 19 June 2009 17:46 UK

Stanford indicted in US

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The American financier Allen Stanford has been indicted on charges of fraud and obstruction of justice in the United States.

Documents by the US Department of Justice allege that Allen Stanford and four others were involved in a seven billion dollar scheme to defraud investors.

Assistant Attorney General Lanny Breuer read out the charges against Mr Stanford at a news conference.

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