THE West Indies Cricket Board (WICB) and the England Cricket Board (ECB) could be facing legal action to return their share of the US$7 million received from disgraced financier Allen Stanford.
A report in the Daily Telegraph newspaper in England yesterday said that receivers acting for creditors of the collapsed Stanford empire are pursuing a number of sporting bodies which had dealings with the Texan billionaire.
“There has been a running fear in the ECB that the receiver could come after them, and this could be the knock on the door they have been dreading for two years,” a source familiar with the Stanford deal told the newspaper.
Following the staging of a US$20 million winner-takes-all final at Stanford’s private ground in Antigua back in October 2008,
US$13 million was split between Chris Gayle’s triumphant Superstars team, which included one Barbadian in left-arm spinner Sulieman Benn.
The remaining US$7 million was split between the WICB and ECB and this money, including that received by the West Indies players, could also attract the attention of the receivers. Neither the ECB nor the WICB, when contacted yesterday, commented on the matter, which was also highlighted on the widely read, Cricinfo website.
Last month, Stanford, who was arrested on fraud charges, was deemed unfit to face trial in Texas on account of his addiction to anti-anxiety drugs. He is accused of masterminding a US$7 billion “Ponzi” scheme, charges which he denies.
Apart from his donation to the WICB and ECB, Stanford also donated monetary grants to territorial boards across the Caribbean, while paying lucrative sums to a number of legendary West Indian cricketers, who were directors of the Stanford Twenty20 board.
Legends such as Sir Garfield Sobers, Sir Everton Weekes, Sir Vivian Richards and Lance Gibbs among others also travelled around the region assisting with the coaching of the teams which participated in the Stanford Twenty20.