London, Feb. 28 : Texas billionaire Sir Allen Stanford has placed himself in more hot water after being accused of carrying out a "massive Ponzi scheme" over at least a decade and misappropriating at least 1.6 billion dollars of investors' money.

Sports promoter Stanford, 58, stands accused along with his former university roommate James Davis.

On Friday, according to The Sun, a Houston judge ruled that Laura Pendergest-Holt, the only person arrested in the eight billion dollar Allen Stanford fraud investigation, could walk free after she posted a 300,000 dollar bond. (ANI)