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Yacht regatta caught in fraud intrigue

The funding of Antigua Sailing Week is threatened by charges that the event’s backer, “Sir” Allen Stanford, has been charged over an alleged $8 billion fraud. The Texas billionaire financier had orchestrated an alleged "fraudulent, multi-billion dollar investment scheme," according to the U.S. Securities and Exchange Commission. Click here to read a report on the Alinghi sailing team Web site.