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Antigua’s Ties to Accused $8 Billion Fraudster a ‘Bloody Nose’ for Island: Consultants
By Matt Squire
printAntigua's efforts to end its reputation as a crime haven have suffered following the disclosure that the alleged head of an $8 billion fraud helped craft the country's anti-money laundering regime. Robert Allen Stanford, a Houston-based businessman, was appointed by the Antiguan government in the late 1990s to chair a committee of consultants charged with improving the anti-money laundering (AML) laws of the Caribbean island nation, according to former government officials and compliance consultants. The U.S. Securities and Exchange Commission has accused Stanford and three of his financial services firms, including Antigua-based Stanford International Bank, with operating a fraudulent investment...
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