The ECB said it is cancelling all its contracts with Stanford and will not participate in Twenty20 events in Antigua or a four-team tournament scheduled at Lord's in May.
The ECB had been under pressure to act after its judgment in signing up for a $20 million winner-takes-all match between England and a West Indies select team last November was questioned following the concerns over Stanford's dealings.
Some county teams had suggested ECB chairman Giles Clarke should consider his position in the wake of Tuesday's complaint in a Dallas Court by the United States' Securities and Exchange Commission against Stanford and three of his companies.
The commission alleges that about $8 billion of so-called certificates of deposit were effectively mis-sold to investors on the back of dubious promises of huge profits.
Stanford was found in Virginia on Thursday and served with the SEC complaint by FBI officials.
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