More lawsuits go to Allen Stanford and more people come to the doors of the Stanford offices. Antigua and Venezuela citizens and residents rush to take back their deposits and current accounts, the Financial Times report.
Government of the Antigua island, the residence of the Stanford headquarters, tried to help the people calm down, but they kept standing in enormously long lines at the Stanford’s doors to make the bank pay back. The bank on Antigua island is a part of a financial imperia of the Stanford’s, but it’s not mentioned in the Securities and Exchange Commissions investigations.
Western Caribbean Islands Central Bank, that is supervising financial activities of 8 islands, including the Antigua, claims that they have enough funds to overcome any negative effect of the crisis and reassured the bank investors that their money are safe.
Before it was revealed that the FBI and other US law enforcement agencies investigate Stanford’s involvement to money embezzlement, money laundering for a Mexican drug trading structure. Stanford and two of his top managers of the bank are accused of fraud causing damage for 8 milliard USD.
