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Antigua Tries to Turnaround Image Following Stanford Scandal
By Kieran Beer
printAn Antigua and Barbuda financial services association is lobbying to improve the islands' reputation in the wake of an alleged Ponzi scheme tied to one of the jurisdiction's biggest investors. Financial services practitioners from the island formed the St. Johns-based International Financial Service Providers Association in March following "negative press" related to the February U.S. Securities and Exchange Commission investigation into a purported $8 billion fraud run by Texas financier Robert Allen Stanford, according to Verlyn Faustin, acting chair of the steering committee of the group. Stanford, who operated the Stanford International Bank (SIB) in Antigua, sold billions of dollars...
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