Antigua PM- Stanford’s probe will hurt Antigua’s image
Published:Monday | February 16, 2009 | 2:16 PM
Antigua\'s Prime Minister Baldwin Spencer is expressing concern that the investigations into Allen Stanford\'s banking business will damage the island\'s image.
US financial regulators are probing the Stanford Group\'s $50 billion financial empire, including his Stanford International Bank in Antigua.
Sir Allen has laid off staff in St John’s in recent weeks, and Mr Spencer fears there could be more job cuts.
The Prime Minister has in the past, described the American investor as being haughty and arrogant.
He said Stanford has contributed significantly to the local economy.