Cricket entrepreneur and billionaire businessman Sir Allen Stanford has been charged in the US over an alleged 7 billion dollar fraud. The 59-year-old was indicted on fraud and obstruction charges alongside other executives of his firm, Stanford Financial Group, the US Justice Department announced. The tycoon handed himself in to the FBI yesterday ahead of a court hearing today. Stanford already faces civil charges brought by US regulators over an allegedly fraudulent eight billion dollar certificate of deposit scheme and a separate 1.2 billion dollar investment vehicle.