Rogue Financier Expects Indictment, Calls Allegations 'Baloney'

R. Allen Stanford, the Texas billionaire and cricket enthusiast accused of an $8 billion fraud, said that he expected to be indicted by authorities in the next two weeks.

In an interview with ABC News, details of which were released Monday night, the financier also denied running a Ponzi scheme.

"I would die and go to hell if it’s a Ponzi scheme," Stanford said, who cried during the interview, according to the television network. "Baloney. Baloney. It's not a Ponzi scheme. If it was a Ponzi scheme, why are they finding billions and billions of dollars all over the place?" he added.

Stanford, a flamboyant cricket fan who has spent millions sponsoring the sport, is accused of running a Ponzi scheme, where he paid existing investors’ returns with money from new clients using high-yield certificates of deposit issued by his bank in Antigua.

On Monday, a U.K. court froze more than $100 million of assets belonging to Stanford International Bank (SIB), the Antigua-based financial group controlled by Stanford, at the request of the U.S. Government.

The High Court in London granted a freezing order on SIB’s U.K. assets after a request from the Securities and Exchange Commission, which has accused Stanford of running a $9.2 billion fraud.

The SEC has filed civil charges against Stanford, two of his top aides and three of his companies.

Click here for more on this story from the Times of London.