FACTBOX: Stanford, four others face fraud charges

WASHINGTON (Reuters) - A federal grand jury in Texas has indicted Allen Stanford and four others accused of running a massive fraud scheme that bilked investors of some $7 billion over more than a decade.

The U.S. Justice Department unveiled the indictment papers on Friday and detailed charges in the case, which revolves around Stanford's bank dealings in Antigua:

- Stanford, four others accused, face 21 charges of fraud and obstruction.

- Five charged are Stanford and former Stanford corporate officials Laura Pendergest-Holt, Gilberto Lopez, Mark Kuhrt and Leroy King, an Antiguan regulator.

- Indictment says the accused defrauded investors who bought about $7 billion in certificates of deposit from Stanford's offshore bank.

- Stanford, others, also accused of diverting $1.6 billion in undisclosed personal loans to Stanford.

- Stanford and other accused charged with falsely claiming Stanford's bank assets grew from $1.2 billion in 2001 to $8.5 billion in December 2008.

- Indictment alleges that about $5 billion on Stanford bank's reported assets consisted of notes on loan to Stanford and grossly overstated interest in island properties.

- More than $2 billion was allegedly added to the bank's books in 2008 from artificial real estate deals

- Indictment charges Allen Stanford with making more than $100,000 in "corrupt payments" to Antigua bank regulator Leroy King to ensure bank records were not audited.

- Indictment seeks forfeiture of fraud proceeds from all defendants.