Group urges blocking IMF aid to Antigua

A group of people allegedly swindled by Texan financier Sir Allen Stanford and a New York law firm, are urging United States legislators to block Antigua and Barbuda from receiving aid from the International Monetary Fund (IMF).



The group, known as the Stanford Victims Coalition, and the law firm of Morgenstern & Blue have dispatched a letter to over 50 senators and congressmen.



In the letter, the group asks the senators and congressmen to block Antigua from availing itself of loans from the IMF unless it takes steps to compensate Stanford\'s victims for their losses.



Sir Allen, who is 59, is accused by United States authorities of swindling tens of thousands of investors of US$7 billion in an alleged Ponzi scheme involving his Antigua-based Stanford International Bank.



Stanford faces up to 375 years in jail if convicted on 21 charges of fraud, money laundering and obstruction of justice.