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Texan billionaire Sir Allen Stanford has been charged over an $8bn investment fraud.

The Securities and Exchange Commission (The American equivalent to our Financial Regulator) said the financier had orchestrated “a fraudulent, multi-billion dollar investment scheme”. The charges against Sir Allen followed a raid by US marshalls on the Houston, Texas, offices of Stanford Financial Group.

David Mills has been sentenced to four and a half years in jail after an Italian court found the British tax lawyer guilty of accepting a bribe of about £400,000 from Italian Prime Minister Silvio Berlusconi.

Note: Police, charges, courts, and jail.

Meanwhile, Irish authorities are thinking of asking the Dail for permission to compel Sean Fitzpatrick to appear before a completely powerless Dail committee where he can refuse to answer questions concerning allegations of massive fraud.