ALLEN STANFORD EXECUTIVE TO PLEAD GUILTY

LAURA Pendergest-Holt, former chief investment officer for Allen Stanford, has agreed to plead guilty and receive a three-year prison sentence for her role in a $7bn (£4.45bn) fraud, according to reports yesterday. Earlier this month, former billionaire Stanford was sentenced to 110 years in prison for running a scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean.

Pendergest-Holt will plead guilty to a single obstruction of justice charge, the reports said.