The fragments of empire that would survive by turning themselves into tax havens.

The Sunday papers are as you would expect full of the latest Allen Stanford stories.

The Independent leads the way with allegations that

More than 20 years ago, the authorities repeatedly probed Allen Stanford’s alleged links to some of the world’s biggest and most powerful drug lords. Despite no fewer than five investigations into suspected drug money laundering by law enforcers ranging from Scotland Yard to the FBI, no charges were ever brought.

The Times reports that

Investigators examining Sir Allen Stanford’s offshore bank say that $8 billion of investors’ money has disappeared.

adding that

Official receivers for Stanford International Bank appointed by the Antigua government have told customers that they suspect the bank was a “Ponzi scheme”, where depositors’ returns are paid from money obtained from new investors.

The Observer devotes a double page spread to the famous faces that fooled the Stanford clients

Stanford Financial Group (SFG) used at least four royals in its glossy publicity brochures, magazines and websites to emphasise the tycoon's respectability - at a time when difficult questions were being asked about how his operations made money.

Whilst writing in the paper Nick Cohen in an article entitled the sordid legacy of the end of empire points at the legacy of independence

These were tiny colonies "set adrift, part of the jetsam of an empire," he wrote. How were they going to make a living? The Foreign and Commonwealth Office in London replied with a disgraceful answer .The fragments of empire, those little specks of land with apparently no viable future, would survive by turning themselves into tax havens.

The Telegraph look at his home town Mexia and asks how a town of just 10,000 people, should throw up two larger-than-life characters: Anna Nicole Smith and Sir Allen Stanford.