CMS Cameron McKenna has been appointed to advise the receivers of two Antiguan companies of Texan billionaire Allen Stanford’s group of businesses.
The Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda called in Vantis client partners Nigel Hamilton-Smith and Peter Wastell as joint receivers of Stanford International Bank and Stanford Trust Company last week.
Vantis has appointed Camerons banking partner Peter Wiltshire to advise on the receivership.
The US Securities and Exchange Commission has charged Stanford with committing a ‘massive and ongoing fraud’ using certificates of deposit that paid above-average interest.
Stanford International Bank in Antigua was the headquarters of a bank that claimed to have $8bn in assets and more than $51bn in deposits across its network.
Only in Antigua!
I’m curious what “receivers” appointed by the now thoroughly discredited Antiguan government will do now that the SEC has taken control.
I’m sure they make a great cup of tea, but I suspect the Americans prefer coffee.
Only in Antigua indeed!
‘Thoroughly discredited government’ – please get yr facts straight – that government (political party) is now trying to regain power in elections due March 12!!
That government practically gave Antigua to Stanford on a silver platter!! That government nominated Stanford for the knighthood which he received!!!
The current government, thank God, put a stop to Stanford’s efforts to try and ‘purchase’ priceless land and offshore islands and control strategic points of entry to the country!!! COME AGAIN!!!!
You have no idea
How many innocent people are experiencing hardship with this problem, independently of whether the money was in Antigua or Japan. Be considerate