Texas billionaire found

Texas billionaire Sir Allen Stanford has been found in Virginia and served with civil legal papers from the Securities and Exchange Commission.



FBI spokesman Richard Kolko said FBI agents; acting at the request of the Commission served Stanford papers today in Virgina.



Stanford is not under arrest and is not in custody.



Stanford and three of his companies were charged on Tuesday with committing in an eight billion dollar fraud that lured investors with promises of high returns.



But US marshals had not been able to find him.