Well this took long enough.

WSJ: Financier R. Allen Stanford was indicted Thursday and charged with orchestrating fraud through his eponymous Caribbean-based financial firm, and hours later surrendered to federal agents in Virginia.

The Justice Department is expected Friday to announce the charges returned by a Houston grand jury, according to people familiar with the matter. The Securities and Exchange Commission had filed a civil lawsuit alleging fraud against Mr. Stanford and two other top executives at his firm, Stanford Financial Group. Dick DeGuerin, Mr. Stanford’s attorney, said Mr. Stanford surrendered to agents outside the home of his girlfriend in northern Virginia. Mr. DeGuerin said he hadn’t seen the indictment but that Mr. Stanford was expected to appear in court Friday morning. Read the whole thing >

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