Sir Allen turns up outside DC

Has John Cornyn returned the campaign contributions from Stanford yet?

U.S. law enforcement officials found Texas billionaire Allen Stanford in the Fredericksburg, Virginia, area on Thursday, and served him with a complaint accusing him of an $8 billion fraud.

FBI spokesman Richard Kolko said the FBI acted at the request of the U.S. Securities and Exchange Commission (SEC), and that Stanford had not been arrested. The FBI gave few other details.

The whereabouts of the jet-setting 58-year-old tycoon who has luxury U.S. and Caribbean homes, had been the subject of intense speculation since he failed to respond to civil charges filed in Texas on Tuesday.

Stanford, two colleagues and three Stanford companies are accused of a "massive fraud" by the U.S. Securities and Exchange Commission.

U.S. federal agents raided Stanford Group offices in Miami, Houston and other U.S. cities earlier this week.

The fallout from the SEC charges against the flamboyant, mustachioed financier and sports entrepreneur has rippled far beyond U.S. borders, prompting investigations from Houston to Antigua and Caracas.

Five Latin American countries have now acted against Stanford businesses, while Britain's Serious Fraud Office (SFO) is monitoring a possible U.K. link after media reports that Stanford's books were audited in Britain.

The Houston Chronicle has a blog devoted solely to the Stanford developments -- Stanford Watch.