Wednesday, 18 February 2009

Run in the Sun

People seeking to withdraw funds line up outside the Bank of Antigua in St John's February 18, 2009.

Hundreds seek their money as Stanford fallout spreads

Hundreds of people rushed on Wednesday to withdraw money from banks in Antigua and Venezuela linked to Texas billionaire Allen Stanford as the fallout from U.S. fraud charges against him rippled from the United States to the Caribbean, Latin America and Europe.

A day after the tycoon and two top executives were charged with an $8 billion fraud by the U.S. Securities and Exchange Commission (SEC), investors and depositors in his banks and companies tried to redeem funds or sought information about their savings.

Police officers stood watch at the Bank of Antigua as at least 600 people stood in line outside.

"I'd like to get my money out," said Andrea Lamar, 28.

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