* Stanford-owned Antigua bank deep in the red

* Stanford moving to Houston

* U.S. receiver plans to contest Antigua action (Recasts first paragraph, adds comment from U.S. receiver)

By Anna Driver

HOUSTON, April 16 (Reuters) - Allen Stanford, the Texas financier facing civil charges for a massive fraud, will not likely be indicted before the end of April, one of his lawyers said on Thursday, the same day receivers in Antigua said his offshore bank faced a serious shortfall.

A federal indictment of the Texas billionaire is not likely before the end of April, Dick DeGuerin, a Houston criminal attorney working for Stanford, told Reuters. "But an indictment shouldn't come at all," he said

Stanford, three of his companies and two top aides are accused by the U.S. Securities and Exchange Commission of running an $8 billion Ponzi scheme involving high-yield certificates of deposit issued by his bank in Antigua.

DeGuerin said he expected any criminal charges to be filed in Houston, so Stanford is in the process of moving there.

"We are negotiating on a lease for a condo," DeGuerin said, adding that his client is eager to answer any charges.