/EINPresswire.com/ CARACAS, VENEZUELA. May 15, 2010. The COALICION VICTIMAS DE STANFORD AMERICA LATINA asks: “Will the International Monetary Fund (IMF) become another accomplice of the Government of Antigua, knowing that this Government was a partner in crime with R. Allen Stanford in the perpetration of the largest pyramidal fraud in history? Why help them if its Government has not responded for the $7.2 billion dollars that were robbed from the victims distributed in 113 countries, with the complicity of the Financial Services Regulatory Commission (FSRC) of Antigua’s Ministry of Finance?

In order to understand the criminal role played by Antigua in the perpetration of this Ponzi scheme, Jaime R. Escalona, Leader of COALICION VICTIMAS DE STANFORD AMERICA LATINA explained the following:

“Among the government of Antigua’s many outstanding debts owed to Stanford’s victims that it has not seen fit to pay are:

– Loans made from Stanford’s companies directly to the Government of Antigua, presumably made with the investors’ money. It is estimated that these loans are more than $230 million dollars.

– Payment for the illegal seizure of property by Antigua’s government once the fraud was discovered in February of 2009. It is estimated that more than 40 properties were confiscated by the Government of Antigua, valued in several hundreds of millions dollars.

– Payment for the confiscation of the Bank of Antigua, property of Stanford’s victims, affected illegally in 2009 by the Eastern Caribbean Central Bank (ECCB). This Eastern Caribbean Central Bank became another criminal partner of the Government of Antigua by illegally distributing the Bank of Antigua’s assets between the Government of Antigua and 5 other banks in the Caribbean: Antigua Commercial Bank Ltd.; Eastern Caribbean Financial Holdings Company Ltd. in St. Lucia; National Commercial Bank (SVG) Ltd. in St. Vincent y the Grenadines; National Bank de Dominica Ltd.; and St. Kitts-Nevis-Anguilla National Bank Ltd.

According to the complaint presented by the SEC (Securities and Exchange Commission) of the United States and the investigations conducted by the Department of Justice (DOJ) of the United States; Leroy King, ex-Director of the Financial Services Regulatory Commission (FSRC) from the Ministry of Finance of Antigua, in addition to allowing Stanford to operate his Banks without real regulatory supervision, lied and kept information from the SEC and other International Regulators in order to protect Stanford’s fraudulent businesses. In exchange for these favors, Stanford added him to his payroll, transferring illicit payments through Banks in the United States.

With the money robbed from the innocent depositors, R. Allen Stanford committed the following illicit acts:

– Bribed the corrupt Antigua Government Officials.
Provided money for payment of the Island’s public employee’s payroll.

– Financed new executive facilities for the Government.

– Donated money to build a National Library and

– Donated money to build a University complex

Escalona asks: “Does the IMF not investigate the performance of the Governments that solicit loans? Is it possible that these misdeeds are not sufficient to negate the requested loan by the Government of Antigua?”

“It is important to remind Mr. Dominique Strauss-Kahn, IMF’s Managing Director and his significant team of Executive Directors that the majority of Latin American victims are honest people; many are elderly, ill or close to retirement. Stanford’s victims are also citizens of countries represented by members of the IMF and for this reason we have the right to be served by the Executive Director and obtain a timely response to our requests;” commented Escalona.

In reference to the economic aid requested by Antigua, Escalona concluded saying, “At this moment the IMF should not give economic assistance to the Government of Antigua. The IMF must show solidarity with Stanford’s victims, demanding the Government of Antigua to begin the immediate restitution of the money that was cruelly stolen from the victims with the complicity of the Regulatory Authorities of the Island.”

Jaime R. Escalona
Leader Coalición Víctimas de Stanford
América Latina
E-mail: [email protected];
[email protected]
Telephone: (512) 377 9255