New York, Feb. 20 : Sir Allen Stanford, the Texan cricket tycoon accused of orchestrating an eight billion dollar investment fund fraud, has handed himself over to the FBI.

After a fruitless two-day manhunt, the financier arranged to meet FBI agents in a car in Stafford County, near Fredericksburgh, in the US state of Virginia, 50 miles south of Washington D. C.

The agents served Sir Allen with bundles of legal documents detailing the fraud allegations, plus court papers containing restrictions on his various companies.

A spokesman for Sir Allen said that he had been "very depressed" since the charges were brought on Tuesday, and that he had sought an end to the manhunt by approaching officials from the US Justice Department and informing them of his whereabouts.

Although no arrest warrant has been issued for Sir Allen - because he does not face any criminal charges - federal authorities had been keen to track him down to ensure he was aware of the civil charges against him.

According to The Telegraph, after the encounter, Stanford was allowed to go, but was asked to surrender his passport, in accordance with a ruling made by a Dallas court earlier in the day.

Stanford's father, James, 81, who lives in Mexia, Texas, said: "I cannot believe, I will not believe what is being alleged actually happened.''''

After his son came forward he said: "Now we know he is alive and well and that is a relief." (ANI)