BUSINESS
03/18/2010 05:12 am ET | Updated May 25, 2011

Allen Stanford's No Longer A Knight: Antigua Removes Accused Ponzi Schemer's Title

ST. JOHN'S, Antigua -- Disgraced Texas financier R. Allen Stanford is being stripped of his knighthood in the Caribbean nation of Antigua and Barbuda, the head of the government panel that approves the awards said Monday.

The National Honors Committee voted unanimously to revoke Stanford's title for embarrassing the nation by running an alleged Ponzi scheme out of his Antigua-based offshore bank, Chairwoman Jacqui Quinn-Leandro said.

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