Serious Fraud Office has said it has frozen $100m (£60m) of assets in London in connection with Sir Allen Stanford’s alleged $7bn fraud.

Following a request from the US Department of Justice, the SFO froze a number of accounts held “at certain London financial institutions”.

These funds were allegedly acquired in connection with Sir Allen’s suspected fraud scheme, the SFO said. The assets were frozen in April, but kept secret until after his arrest.

They will be frozen pending the outcome of the criminal proceedings in the US.