Texas billionaire Allen Stanford surrendered to U.S. authorities in Virginia on Thursday after criminal charges were filed against him, Stanford's lawyer said, according to Reuters.
"He surrendered," Stanford attorney Dick DeGuerin told Reuters. "He's in FBI custody."
Stanford, 58, already faces civil charges brought by the U.S. Securities and Exchange Commission (SEC) that he fraudulently sold $8 billion in certificates of deposit with improbably high interest rates from his Stanford International Bank Ltd (SIB), headquartered in Antigua.