Deputy leader of the Opposition Antigua Labour Party Gaston Browne has urged the government to cease its compulsory acquisition of Allen Stanford’s assets.
Stanford is awaiting trial in the US for his alleged $7 billion Ponzi scheme.
Browne said the assets should be left for beneficiaries, as determined by the Companies Act or the Court.
“In the interim, pending the Court’s decision, the government should protect the interest of all stakeholders to include Stanford Victims’ Coalition members, former staff members of the Stanford Group of Companies and various government agencies to include Inland Revenue and APUA, by placing a caution or lien over these assets,” Browne said.
The deputy opposition leader said it would be unfair for the United Progressive Party government to opportunistically seek to confiscate these assets, “which, more than likely, would form part of the receivership estate, thereby exacerbating the pain and losses of depositors, some of whom, incidentally, are Antiguans and Barbudans.”
He noted that rather than allow the problem to fester to the detriment of Antigua & Barbuda, government should “indicate unequivocally, to all stakeholders, including the Stanford Victims’ Coalition members, how it intends to treat these assets to avert the anxieties, frustrations and counterproductive actions of the victims here and abroad.”
He stressed that this is necessary because it is clear that the Stanford Victims’ Coalition is making progress in waging what he calls a dishonest and malicious smear campaign, against Antigua & Barbuda.
That group is trying to get travel agents, tourists and potential investors to boycott Antigua &Barbuda.
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