1.
U.S. markets recover from steep losses
SAINT JOHN'S, Antigua and Barbuda, Feb. 21 (UPI) -- The Bank of Antigua has been seized by Caribbean regulators amid fraud accusations aimed at its owner, Allen Stanford, officials said.
The Eastern Caribbean Central Bank said Friday it took control of the Bank of Antigua to prevent a run on it in the wake of civil fraud charges filed by the U.S. Securities Exchange Commission against Stanford and his company, Stanford Financial Group, the BBC reported.
The central bank said it had detected "an unusual and substantial withdrawal of funds" from the Bank of Antigua and moved to maintain stability and reassure customers, the broadcaster said.
The SEC says Stanford, a billionaire investor and the biggest shareholder in the Bank of Antigua, perpetrated an $8 billion investment fraud. Stanford, however, was not in custody and had not been charged with any criminal violations.
The governments of Peru, Venezuela and Ecuador have suspended operations at banks owned by the group, the BBC said.
|
|
|
|
|
|
| Additional Business News Stories | |
ANCHORAGE, Alaska, May 24 (UPI) --
Officials at BP said the spill of an estimated 4,200 gallons of crude oil and associated water was contained at a site at the Prudhoe Bay field in Alaska.
|
OTTAWA, May 24 (UPI) --
A planned shakeup in the command structure of Canada's 68,000-strong armed forces will save costs and also respond to criticism of government performance over the planned Canadian acquisition of the Joint Strike Fighter program.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
It is a whole new ball of wax in Europe these days.
|
| Stories | Photos | People | Comments |
View Caption
