Washington Examiner: "SAN JUAN, PUERTO RICO — The Caribbean offshore bank at the center of an alleged Ponzi scheme run by Texas billionaire R. Allen Stanford has a 'substantial' shortfall of funds to pay hundreds of depositors clamoring for their money, a court-appointed receiver said Thursday.
Vantis Business Recovery Services said it has begun liquidating the Stanford International Bank Ltd. and that the accounts of hundreds of depositors from around the world remain frozen.
Vantis, a British accounting company appointed as a receiver by the High Court of Antigua and Barbuda, said the bank's assets are 'significantly less' than its liabilities."
Vantis Business Recovery Services said it has begun liquidating the Stanford International Bank Ltd. and that the accounts of hundreds of depositors from around the world remain frozen.
Vantis, a British accounting company appointed as a receiver by the High Court of Antigua and Barbuda, said the bank's assets are 'significantly less' than its liabilities."
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