Robert Allen Stanford, 59, is set to appear in court today, after he and four other associates were indicted on fraud and obstruction charges in an alleged $7 billion Ponzi scheme to defraud investors, the U.S. Department of Justice said today.

Others indicted along with the Chairman of Antigua-based Stanford Financial Group include three officers of the company: Laura Pendergest-Holt, 35, SFG’s chief investment officer; Gilberto Lopez, 66, SFG’s chief accounting officer; Mark Kuhrt, 37, SFG’s global controller. A fourth person is Leroy King, 63, former administrator and CEO of Antigua’s Financial Services Regulatory Commission.

Stanford was arrested Thursday in Virginia by agents from the Federal Bureau of Investigations, the Department said, confirming an earlier reports citing his lawyer.

Stanford has civil charges pending against him by the Securities and Exchange Commission which also allege he committed fraud through his bank.

His attorney, Dick DeGuerin, told Bloomberg Federal agents surrounded his girlfriend’s house Wednesday afternoon. He said he instructed Allen to turn himself over to the agents if they had a warrant.