Will the Allen Stanford investigation impact upon Caribbean property markets?

Discussion in 'Caribbean Real Estate' started by Nicholas Wallwork, Feb 20, 2009.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    The ongoing investigation into the Stanford Group has highlighted the dependence which many Caribbean governments have on wealthy business people and business operations.

    As customers of Stanford Bank queue to withdraw their deposits from around the world, could we see a collapse in some Caribbean economies, tourists industries and property markets?

    There is also talk of changes to offshore banking regulations which could also have a major impact upon the Caribbean........

    Check out this article for more information "How will the Allen Stanford affair impact upon the Caribbean?".

    Does anyone have an opinion on the situaiton?
     
  2. Estate07

    Estate07 New Member

    Will the Allen Stanford investigation impact upon Caribbean property markets? I think Property rates Increased Because Of this ( Allen Stanford investigation)
     
  3. november

    november New Member

    Well I hope this has been resolved! i think allen sanford is in us custody, can someone clarify?
     
  4. planet

    planet Banned

    A small group of investors have filed a class-action lawsuit seeking compensation for the "unlawful seizure" of the Bank of Antigua.
     
  5. totallyproperty

    totallyproperty Administrator Staff Member

    I think individuals such as Allen Stanford will come and go in many countries around the world and while their impact can be catastrophic on investors, future investors often have very short memories. Sometimes it is difficult to understand how any one individual such as Allen Stanford built up such a large presence in the region with his financial tentacles reaching far out.

    It is now up to the government and local authorities to put in place safeguards to ensure the chances of this happening again are as small as possible. They will never disappear but there is certainly room for improvement.
     
  6. Much of the real assets have now been sold. Luxury Locations sold the largest real assets in Antigua, Crump Island, Crump Peninsula, Guiana Island, Maiden Island and Barnacle Point to Yida Zhang in 2014.
     
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