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Offshore Banking News

Inbox Robot: Offshore Banking News

Offshore Bank Account

Friday, March 13, 2009

March 11 (Bloomberg) -- R. Allen Stanford, clad in jeans and a white polo shirt embroidered with his corporate eagle-shield logo, told employees on Antigua in 2005 that he spent “millions and millions and millions of dollars” on the island “to attract the wealthiest people in the world.”

Potential clients “have to go back literally blown away,” the Texas banker said, according to a video of the meeting provided by Howard Allen, an Antiguan filmmaker who said he was hired to shoot it. Stanford said on the tape that he was upset by opposition to his latest development plans.

The financier, 58, accused by the U.S. of running an $8 billion Ponzi scheme, built Antigua into a marketing showcase for his Stanford Financial Group by lending its government at least 230 million Eastern Caribbean dollars ($85 million) and handing checks to public officials, according to interviews and documents.

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