exan billionaire Sir Allen Stanford has surrendered to the US authorities after a warrant was issued for his arrest on criminal charges.
The 58-year-old already faces civil charges brought by the US Securities and Exchange Commission (SEC) over an alleged fraud worth $8bn (£6bn).
Sir Allen turned himself in to the FBI in Virginia, Reuters news agency quoted one of his lawyers as saying.
It was not immediately clear what criminal charges Sir Allen faces.
In February, the SEC, the US financial watchdog, described the alleged fraud at Stanford Financial group as a “fraud of shocking magnitude”.
The cricket impresario is accused by the SEC of luring investors with promises of improbable and unsubstantiated high returns on certificates of deposit and other investments.
The billionaire financer has refused to talk to US regulators investigating his alleged fraud, and court documents show that Sir Allen pleaded the Fifth Amendment – the right to withhold potentially self-incriminating evidence.
In an interview with ABC earlier this year he insisted no money was lost by customers dealing with his financial services companies.