This Guy, Oy

Missing billionaire found in Virginia

The FBI locates and officially serves papers to financier Robert Allen Stanford, who is accused of running a $9.2 billion investment fraud scheme.

(CNN) -- Federal agents have located financier Robert Allen Stanford and served him with papers accusing him and three of his companies of orchestrating a $9.2 billion investment fraud scheme, the FBI said Thursday.

Stanford, who was located in Fredericksburg, Virginia, has no criminal charges pending against him and was not taken into custody, FBI spokesman Richard Kolko said. But the Securities and Exchange Commission said Stanford was behind "a fraud of shocking magnitude," and the FBI served him a copy of the SEC complaint, Kolko said.

The FBI won't talk about a criminal investigation of Stanford's activities, but federal law enforcement officials familiar with the case leave no doubt that federal agents are investigating his financial dealings. Multiple officials indicated criminal charges are not imminent and would not discuss potential charges.

Stanford has arranged to give his passport to one of his attorneys who will offer it to federal authorities.

The FBI would not say whether Stanford is under surveillance, but said they expect to know his whereabouts. "He's not hiding from us at all," one official said.