Money laundering news 11/05/09 Panorama investigates Stanford fraud allegations tonight

Tonights Panorama on BBC 1 investigates the money laundering allegations against Texan cricket benefactor Sir Allen Stanford.

The programme promises to show how the billionaire businessmans empire began to fall apart in February 2009, leading to accusations of operating a massive fraudulent investment scheme.

In the interests of fairness, it also promises to air Stanfords vigorous denial of involvement with the proceeds of crime, and the confidence that the businessmans father has in his son.

However, previews indicate that Stanfords banking interests will face much of the investigative programmes attention. References to money laundering on a substantial scale and the payment of over $3million to the American Drug Enforcement Administration as a result of trafficker investments suggest that the programmes overall tone is likely to be unsympathetic to the banker.

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