THE FIGHT FOR STANFORD'S $227M IN BACK TAXES

The fight for Allen Stanford's money has begun.

The IRS now says that if Antiguan liquidators are granted US court authority over Stanford's offshore bank, that decision could hinder the agency's efforts to collect the $227 million that they are claiming in back taxes.

Filing papers in US District Court in Dallas today, the IRS claimed that the Antiguan liquidators have already spoiled computer records from the bank's Canadian office.

They are also insisting that Antigua, because it is a well known tax haven that promotes financial secrecy, would not be inclined to divulge whatever irregularities they might find in the financial records of Stanford International Bank. The IRS wants the US appointed receiver to control those records, rather than the receivers appointed by the court in Antigua court.

Stanford and two other bank executives have been accused by the SEC in the States of a massive Ponzi scheme revolving around certificates of deposit. Stanford continues to deny any wrong doing and has not yet been charged criminally. But those close to the case expect that to happen sometime this month.