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Stanford Investors Target Tourism

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Stanford Investors Target TourismA group of Stanford investors, this time in Latin America, is pressuring cruise lines to boycott Antigua & Barbuda. The Stanford Victims Coalition of Latin America has labelled the country "Pirates of the Caribbean" on its blog, according to online news sources.

The group, formed last May, is headed by Jaime Rodriguez Escalona of Venezuela. It is made up of less than 500 members throughout 15 countries, including Spain and Portugal, who lost money to the Texan investor in 2009.

Although Escalona admitted that the cruise lines did not play a role in the collapse, his group is nonetheless threatening to fuel a boycott of the companies if they continue to bring passengers to Antigua.

The group wants the Antiguan government to fork over the money seized through Stanford's property to Latin Americans who were holding worthless certificates of deposit.


The cruise lines have so far not responded.

Comments (18)Add Comment
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...
written by Fed Up..., March 09, 2010
why the south american inversters dont tell the truth that is hide they were hiding their monies cause their governments were seizing bank accounts.....
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my my my
written by samantha, March 09, 2010
I will agree that if it's TOO GOOD TO BE TRUE, IT MOST CERTAINLY IS. Many Antiguans were skeptical of Stanford, they refused to open an account at The Bank of Antigua and even refused to fly on Caribbean Star and Caribbean Sun even though their airfares were cheaper than Liat's. So how dare the lot of you to generalize Antigua and Antiguans? Why not go after the Politicians who P********Ed themselves with this man. The ALP gladly and willingly accepted Stanford, he could do no wrong, and he got whatever he wanted. Antiguans were apalled by this, so how dare you chat your nonsense and come with your threats. Antigua was not a problem in the beginning, it was perfect because just like the greedy Antiguan Politicians, Stanford was also able to pull the wool over your eyes and you all blindly and S****Dly fell for his tricks. Well, guess what, go after Stanford, his lawyers and the ALP and leave the people of this country out of your messy CRAP.
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Caribbean Bill
written by W A Richards, March 09, 2010
Sorry but our bahavior is consistant with the worlds perception of this little Island Nation. At one time Antiguan overseas talked about home with pride. The quality of life was second to non in the Caribbean. The currupt politician has transformed Antigua from a small little prosperous state to a bread basket case. It is not a pleasant feeling to hear that Antigua is the most currupt country in the Caribbean if not the world, then it became a Criminals Paradise and now today Pirates of the Caribbean. Wake up people and stop blaming Stanford investors for their losses.
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XXX and W. A Richards
written by Aristotle, March 09, 2010
Both of you are cahatting b**l. There was a ponzi scheme with a man called Bernie Madoff in the USA, I do not hear any investor from around the world threatening the mighty US Government. As I mother use to say, "when you poor everybody think they can do you as they like!. All of Stanford investors were happy to hide their money for all these years, only now that the problem arise that they know how much pirates we are. Here is the deal, the local a*sets retrieved by the government are the property of the people of Antigua. The true pirates who were in government before gave Stanford the people's property for next to nothing!. I suggest that all those investors go after stanford's family who are still millionaires. Leave Antigua and Antiguans alone!!!
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Caribbean Bill
written by W A Richards, March 09, 2010
It is inconceivable to me that some of my Brothers and Sisters would call individuals have lost their hard earned fruits of their labour greedy. Our government should be the one called greedy. While the politicians were wheeling and dealing and under table bribe taking Stanford could do no wrong. He was the largest employer after the government. The goverment even turned to him to borrow money to meet their pay roll. All of that was done with investors money. The a*sets that the gov has seized belong to the investors. They have the right to recover whats rightfully theirs by what ever means neccessary. I am Antiguan but wrong is plain wrong. The government should give up what is not theirs. Step up to the plate and try to negotiate the other issues before Stanford trial starts in 2011. If we think things are bad now the worst is yet to come..
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...
written by XXX, March 09, 2010
The US investors are just threatening lawsuits. These are Central and South American investors. What they are showing now is their legitimate power. What do you think will happen if they just decide to take back what is theirs? How big is that Antiguan "army"? How well are they armed? How long do you think they could hold off a well financed and equipped mercenary force from several South and Central American countries?
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solution
written by tenman, March 09, 2010
The PM needs to have him friend Chavez have a serious chat with the "investors" in Venezuela.
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Highly offended
written by Offended, March 08, 2010
I am so p**sed off by this story. Who the heck do these people think they are? There always has to be a scapegoat and Antigua is it huh?! I don't think so. I am so upset that I won't even say what I was going to because it is not nice at all. No country is perfect so that Latin American group needs to find another way to make some quick money. They're not getting it from Antigua. No way.smilies/cry.gifsmilies/cry.gif
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Talk to them
written by skyewill, March 08, 2010
do any of these investor groups have a point or are they just blowing smoke? We Antiguans have a way of moving too slow on things. We need to engage those people ASAP to at least listen to what they have to say. Stanford's Land is being protected by our government, I do believe it is the right thing to do but it may be for the wrong reason. Mr. Stanford is not a convicted criminal and least not yet. We need to allow these people access to the properties and have a liaison to address these folks. The lands can go no where. maybe they can come in an upgrade these investments and create jobs work with us for a win win settlement
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These people are hupocritical
written by Avid Reader, March 08, 2010
These people are hypocritcal, most of Stanfords money was by pa*sing Antigua and heading to banks in Canada and the USA, where are those pirates. All of those billions/millions certainly was not in Antigua, a pitance is what Antigua saw and to be sued by people who are supposed to follow their investments and read everything that was going on. They need to go after the US government, they knew what Stanford was doing, they should be after the State of Florida that allowed Stanford to fly under the radar.
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amazed
written by sj, March 08, 2010
How can Antiguans and Barb*dans protect themselves from people who because they were trying to make a quick buck and got caught with their pants down and now want Antiguans and Barb*dans to pay for their mistake. These people took Stanford's word without doing any proper background check on the man and now that they have lost their money they want our little country to pay because they failed to do their homework ? HOW ABSURD!!!
Is it because because we are a small Country and we did what was nescessary to protect ourselves that all these people are trying to make us look bad. Had this happen in any of the Countries mentioned would they have allowed foreigners to come in and walk all over them? "I DONT THINK SO" !!!

PONZI SCHEMES ARE POPPING UP ALL OVER THE WORLD AND THE PEOPLE WHO HAVE BEEN COOKING THEM UP ARE BEING CAUGHT , WHY DONT THESE SOUR GRAPE INVESTORS GO AFTER THE PERSON WHO DUPED THEM AND LEAVE ANTIGUA AND BARb*dA ALONE! ! ! !
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Re: Watcher con't
written by onlooker, March 08, 2010
You seem to be however, a so called Antiguan who lives overseas and is so overwhelmed by what you see in the big country you live in, that you feel you are on top of the world. We down here are probably more informed about what is happening and about everything than you who is wrapped up in your small cocoon.
With regards to your statement "But with the high poverty level there, that's not likely." I would not be surprised if most Antiguans live better than you financially; and even though we may not have as much as you, socially we do live better than you. And by your statement, we seem even better off intellectually.
Let me remind the accusation of one official being involved does not mean an entire Gov't or country involved. It seems as if you r not away of that. I not sure if you can enlighten me but is anyone suing SEC over Madoff and the many mini madoffs the've caught? Get Real!!
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Re:Watcher
written by onlooker, March 08, 2010
You totally missed ginger's point. Ginger was saying that because of greed, they went for a very risky, maybe even doubtful investment opportunity, in order to make high quick returns on their monies. Most may have turned a blind eye on procedural planning for the future and just saw big bucks from high returns.
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You lie with dogs, you rise with fleas.....
written by Objectivity, March 08, 2010
This is what we get for lying down in bed with the enemy. We joined the big, bad USA to topple Sir Texan billionaire. Tell them thank you for jailing him by renaming Boggy Peak after the president of our partner in crime. However, the feel good experience lasted a fleeting second. Our partner has turned on us and is enabling those who had interest in the business to take away our patrimony. Our leaders lay silent, the people are bewildered and the nation is being steered down s*****t ' s creek without a paddle. Even the PM's friend Chavez kicking us in the caboose.
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Antigua/Barbuda Shares Some Responsibility
written by jungleman, March 08, 2010
Just because these investors may have been duped by Allen Stanford does not mean they should be called names and be dismissed. Both ALP and UPP governments were warned early about Allen Stanford and should have required security deposits to partially protect investors and even Stanford employees. Trouble is that A/B politicians have been acting as if the country exists on a planet by itself and does not have to abide by the rule of law and conventions. My countrymen and women are just as guilty and foolish to continue defending these imbecilic politicians. Our country has become the laughing stock of this hemisphere mainly because of these political dullards and those who support them! Any way, the chickens have come home to roost, so let us brace ourselves for a long harsh 5 years ahead. Sorry to disappoint you my people, there was never any free lunch-now we must all pay!
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Get REAL!!!!
written by watcher, March 08, 2010
GINGER: Investing isn't being greedy, it's procedural planning for an individuals future/family. If the ma*ses in ANU had monies to invest, I'm sure they would also look at investment opportunities as a means to make their nest egg grow. But with the high poverty level there, that's not likely.

Too bad ANU is full of crooks and a gov't who sat by idly as Stanford ran his ma*sive ponzi scheme. Now it's time to pay the piper and everyone's up in arms! Get REAL!!!! Looks like you'd better hurry up and find another major industry cause tourism will be severly impacted by angry investors all over the world!
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This too shall pa*s
written by buzzbomb, March 08, 2010
I find the tatics of these disgruntled investors reprehensible. These folks took their money and shopped around for the sweetest tax free deal they could find. Things went wrong and they are justifiably upset, but their careless investments should not be a reason to b**ly or intimidate Antigua & Barb*da and it's citizens.
Aruba faced similar threats in the wake of the Natalie Holloway tragedy and survived. Antigua will as well.
BTW, Stanford had a bank in Caracas that was seized by the government; go talk to Hugo Chavez about that.
Don't worry about the rantings of these miscreants Antigua and Barb*da, this too shall pa*s.
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if it's too good to be true
written by ginger, March 08, 2010
Maybe if these greedy investors had done their homework aka background check on this so called Midas they would not have been in this predicament. Ever heard of if it's too good to be true then it most certainly is? Even local bankers will advise to stay away from any institution that offers such his high return on investments. You don't have to be a rocket scientist to know this. Now you want our tourism to suffer as a result of your greed and outright S****Dity? Thank goodness the world is not being overrun by folks who will fall for your d**b tricks.

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