Found! Accused Scammer Stanford Turns in Passport in Washington

SEC Moving to Seize Billionaire’s Planes, Yachts, Bank Accounts and Homes

The billionaire banker accused of scamming $8 billion, R. Allen Stanford, was located by FBI officials today and served with civil papers by the SEC, putting an end to a nationwide search.

Plane used by R. Allen Stanford.

(ABC News/AP Photo)

Stanford later turned in his passport today to federal prosecutors, saying “he would not flee,” according to one of Stanford’s lobbyists, Ben Barnes.

Stanford was located in the Fredericksburg, Virginia area, the FBI said in a statement.

Stanford is “very depressed,” according to Barnes and sought to end a federal manhunt for him by directly approaching officials at the Justice Department, Barnes said.