Disgraced Financial Giant R. Allen Stanford Loses Knighthood Title

This blurb from the AP news wire:

It's no longer “Sir” Allen Stanford.

The panel that approves candidates for knighthood in the Caribbean nation of Antigua and Barbuda has voted to rescind the honor granted to Texas financier R. Allen Stanford in 2006. The chairwoman of the National Honors Committee says the panel voted unanimously to revoke Stanford's title. Jacqui Quinn-Leandro said today the panel took the action because of the embarrassment Stanford caused the country with the alleged Ponzi scheme he ran from his Antigua-based offshore bank.

The vote needs the signature of the governor general but that is considered a formality. The country has never before revoked such an award. U.S. authorities accuse Stanford of leading a $7 billion Ponzi scheme by promising inflated returns to about 28,000 investors on certificates of deposits at his Antiguan bank. Stanford, who is jailed without bail in Houston pending trial, denies the allegations.