Run on Bank of Antigua by over 600 account holders Wednesday morning!
West Palm Beach, FL (JusticeNewsFlash.com)–Breaking News: Reuters just reported a massive run on the Bank of Antigua in St. John’s, Antigua by over 600 account holders Wednesday morning. The banking consumer scare began on Tuesday when the U.S. Securities and Exchange Commission (SEC) www.sec.gov accused Texas billionaire, Allen Stanford, of an $8 billion fraud.
The U.S. Department of Justice secured warrants from a federal judge to enter Stanford Group, Stanford’s Houston, Texas headquarters. About 15 various federal agents including United States Marshals stormed the corporate offices, in Houston, to secure the premises. A federal judge froze Stanford’s assets and ordered a court appointed receiver to control assets on Tuesday.
According to initial reports, the 58 year-old billionaire tycoon, sports entrepreneur, and financier is accused, by the U.S. government, in a Fort Worth/Dallas, Texas federal court, of fraudulent selling certificates of deposit offered by Stanford International Bank Ltd. (SIB), located in Antigua, one of its affiliates. Stanford’s location is unknown and he holds dual citizenship in Antigua and America.
JusticeNewsFlash.com breaking news for West Palm Beach securities fraud lawyers.