News - Antigua-Barbuda Net News

LONDON, England (Bloomberg) -- Allen Stanford’s liquidators from Antigua were awarded control of 120 million pounds ($196 million) in UK assets seized in a fraud probe in a London court battle with US receivers. Liquidators appointed in the US and Antigua failed to agree on who should have control of the funds.

Stanford's lost Antigua passport found at receiver's lawyers, US says

HOUSTON, USA (Bloomberg) -- Allen Stanford’s expired Antiguan passport was found among possessions seized by a court-appointed receiver for the financier’s companies, three days after prosecutors told a US judge they didn’t know where it was. Stanford, 59, has been in custody since June 18.

Judge orders Stanford jailed until trial

HOUSTON, USA (Reuters) - A federal judge on Tuesday ordered Texas financier Allen Stanford, accused of a $7 billion fraud, held without bail until trial. US prosecutors had argued that Stanford, who faces life in prison if convicted on all charges, had the means and motive to flee. Stanford spent 15 years living in the Caribbean.

Stanford to remain jailed until June 29 court hearing

HOUSTON, USA (Bloomberg) -- Allen Stanford, the Texas financier accused of swindling investors in a $7 billion fraud, will be held in jail until a June 29 court hearing on whether an order granting him bail should be reversed, a judge ruled. The request to delay Stanford’s release on bail was filed on Friday.

Antigua-Barbuda becomes third OECS country to join ALBA

ST JOHN'S, Antigua -- Antigua and Barbuda on Wednesday became the third country within the OECS to sign on to the Bolivarian Alternative for the Americas (ALBA) during a ceremony in Venezuela. Prime MInister Spencer during his statement at the singing ceremony said that the country's accession to...

Stanford pleads not guilty to fraud

HOUSTON, USA (AFP) -- Texan cricket mogul and billionaire financier Allen Stanford on Thursday pleaded not guilty to 21 charges of multi-billion dollar fraud, money-laundering and obstruction. Stanford appeared in a Houston court along with three of his four co-accused charged with running an investment scam.

Antigua arrests ex-regulator in Stanford fraud case

MIAMI, USA (Reuters) -- Antigua and Barbuda's authorities arrested the country's former chief financial regulator on Thursday over US charges that he collaborated with Texas billionaire Allen Stanford in a $7 billion fraud. Leroy King was detained on a provisional warrant requested by US authorities.

Antigua sacks regulator over Stanford 'cancer'

MIAMI, USA (Reuters) -- Antigua and Barbuda's government on Tuesday dismissed the country's chief financial regulator over his alleged role in the Allen Stanford fraud case, and vowed to root out further corruption "cancer" if it existed. Leroy King had already been suspended last week.

Two more Caribbean countries join ALBA bloc

HAVANA, Cuba (ACN) -- Venezuelan President Hugo Chavez announced that Ecuador, Saint Vincent and the Grenadines, and Antigua and Barbuda will join this week the Bolivarian Alternative for the Americas (ALBA), a Latin American and Caribbean bloc for integration and cooperation. According to Prensa Latina news agency...

Stanford, Antigua regulator charged with fraud

WASHINGTON, USA (AFP) --Texan billionaire financier and cricket mogul Allen Stanford and four others were charged Friday with 21 counts of fraud, money-laundering and obstruction in a huge eight-billion-dollar scam. Some 30,000 investors from across the world, including thousands of Americans, were defrauded.

Stanford clients comforted by arrest, still angry

BOSTON, USA (Reuters) -- Investors burned by Texas billionaire Allen Stanford took solace from his indictment on Friday, but many remained devastated by their losses and frustrated at their inability so far to recover the money. The arrest does little to ease the pain of the 30,000 investors affected by the scam.

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