Vantis Will be Receivers for Stanford International Bank

Written by :

Jagajeet Chiba

Published on :

20 February, 2009

The same receivers placed in charge to manage the liquidation of online gambling firm, BetonSports, will now oversee the Stanford International Bank crisis in Antigua.

Appointed as receivers of the two Stanford units were Nigel Hamilton-Smith and Peter Wastell of Vantis Business Recovery Services, a U.K.-based accounting, tax and business advisory firm.

Vantis plc is the AIM listed UK top 13 accounting, tax and business recovery and advisory group.

Antigua's Financial Services Regulatory Commission said its investigators "will continue to review the processes and developments as they unfold to protect the reputation and integrity of the financial services sector in Antigua and Barbuda."

FBI agents found R. Allen Stanford, the suspected mastermind of a $9.2 billion financial fraud, in Fredericksburg, Va., and served him with court papers, authorities said.

The Securities and Exchange Commission charged Stanford, his three companies and two associates with fraud Tuesday after determining that he was allegedly misleading customers in the sale of certificates of deposit and other financial products.

Jagajeet Chiba, Gambling911.com

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