Bank of Antigua
Encyclopedia
Bank of Antigua was formed on the 10 February 1981 in St. John's
, Antigua
. It was owned by the Stanford Financial Group
which has been sued by the U.S. Securities and Exchange Commission, along with Robert Allen Stanford, the Stanford Financial Group
's owner, for allegedly running a Ponzi scheme
. Control of the bank was taken by Eastern Caribbean Central Bank
on 20 February 2009.
St. John's, Antigua and Barbuda
St John's is the capital and largest city of Antigua and Barbuda, a country located in the West Indies in the Caribbean Sea. St John's is located at...
, Antigua
Antigua
Antigua , also known as Waladli, is an island in the West Indies, in the Leeward Islands in the Caribbean region, the main island of the country of Antigua and Barbuda. Antigua means "ancient" in Spanish and was named by Christopher Columbus after an icon in Seville Cathedral, Santa Maria de la...
. It was owned by the Stanford Financial Group
Stanford Financial Group
The Stanford Financial Group was a privately held international group of financial services companies controlled by Allen Stanford, until it was seized by United States authorities in early 2009....
which has been sued by the U.S. Securities and Exchange Commission, along with Robert Allen Stanford, the Stanford Financial Group
Stanford Financial Group
The Stanford Financial Group was a privately held international group of financial services companies controlled by Allen Stanford, until it was seized by United States authorities in early 2009....
's owner, for allegedly running a Ponzi scheme
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
. Control of the bank was taken by Eastern Caribbean Central Bank
Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank is the monetary authority of a group of six independent Caribbean nations namely:* Antigua and Barbuda,* Grenada,* Saint Kitts and Nevis,* Commonwealth of Dominica,* Saint Lucia,* Saint Vincent and the Grenadines,...
on 20 February 2009.