Stanford denies his clients lost money

The Texan billionaire Sir Allen Stanford insists no money was lost by customers of his companies which are now at the centre of $8bn fraud charges.

In an emotional interview with ABC, the financier wept as he spoke about how much he loved his employees.

He later threatened to punch anyone who repeated allegations that he was involved in the laundering of Mexican drug money.

He added that customers who have tried to recover their money from his banks have been able to do so.

Wrongdoing denied

In one of his more dramatic moments, he said he would "die and go to hell" if his investment plans were proved to be financial pyramid schemes, or Ponzis.

He has already denied any wrongdoing in the case. He has been accused by the financial regulators in the US of running a massive fraud.

All of his companies have been put in receivership, and their operations have ceased, causing huge problems for the Caribbean island of Antigua, where he was based.