{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Latest on Stanford bank crisis' data-url='/boclips/videos/5c54c001d8eafeecae14778a' data-video-url='/boclips/videos/5c54c001d8eafeecae14778a' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nLatest on Stanford bank crisis\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of the Stanford International Bank 2. Close of Stanford International Bank sign 3. SOUNDBITE (English) Sonia Friedman, Investor:\"I flew overnight (from Mexico) to get here as fast as we could because we heard the bank was paying....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of the Stanford International Bank \u003cbr/\u003e2. Close of Stanford International Bank sign \u003cbr/\u003e3. SOUNDBITE (English) Sonia Friedman, Investor:\u003cbr/\u003e\"I flew overnight (from Mexico) to get here as fast as we could because we heard the bank was paying. I called yesterday and the bank was open, so I thought I could get more answers than I was getting back in Mexico, so. Unfortunately I just got here and they told me the bank was closed at noon.\"\u003cbr/\u003e4. Wide of Friedman walking with luggage\u003cbr/\u003e5. SOUNDBITE (English) Sonia Friedman, Investor:\u003cbr/\u003e\"It's my mom's life savings. So, I'm really sad, she's an 80-year-old lady. I was hoping I could get her money.\"\u003cbr/\u003e6. Wide of Stanford Trust Company building\u003cbr/\u003e7. Zoom out from Stanford Trust Company sign to wide of building\u003cbr/\u003e8. SOUNDBITE (English) Hazel Roberts, Antigua Resident:  \u003cbr/\u003e\"No I wasn't surprised. I mean, his demands on the government and the way he does things seemed to be suspicious all the time. He has always been a suspicious figure, as though something is wrong.\"\u003cbr/\u003e9. Wide of sign at Stanford Cricket Ground\u003cbr/\u003e10. Medium of sign\u003cbr/\u003e11. Wide of Cricket pitch\u003cbr/\u003e12. SOUNDBITE (English) Chris Fisher, English Tourist:  \u003cbr/\u003e\"I think back at home everybody in England is a bit unsure. Nobody knows what's going to happen, nobody knows what's going to happen to the money. Nobody knows where... I just don't think anybody knows what's going to happen, or where the Twenty20 (cricket) stands or where people are going to go from now, and I think it's just a case of we'll wait and see.\"\u003cbr/\u003e13. Wide of Bank of Antigua building\u003cbr/\u003e14. Close of sign for Bank of Antigua \u003cbr/\u003e15. Various exteriors of Stanford's restaurant 'Sticky Wicket'\u003cbr/\u003eThe receiver in charge of recovering assets from Allen Stanford's financial empire said on Friday that investors would not be able to access to their cash or transfer funds out of their accounts \"for the foreseeable future\".  \u003cbr/\u003eThe Securities and Exchange Commission (SEC) has accused the Texan financier of running an 8 (b) billion US dollar financial fraud scheme. \u003cbr/\u003eThe SEC filed a civil lawsuit this week against Stanford, two of his colleagues, his Antigua-based Stanford International Bank and two related entities.\u003cbr/\u003eA federal district court judge in Dallas gave the receiver power to seize assets and records of Stanford and his companies and two of his lieutenants.\u003cbr/\u003eThe receiver also said he had ordered a halt to all sales of certificates of deposit by Stanford companies.\u003cbr/\u003eDesperate Stanford clients, like Mexican Sonia Friedman, rushed to Antigua to seek answers on Friday only to be confronted by the bank's closed doors.\u003cbr/\u003e\"It's my mom's life savings. So, I'm really sad, she's an 80-year-old lady. I was hoping I could get her money, \" Friedman said.\u003cbr/\u003eThe Bank of Antigua also suffered a run on deposits Friday, even though it has not been named in the fraud complaint. \u003cbr/\u003eA failure of the local bank could have severe consequences in the twin-island nation of Antigua and Barbuda.\u003cbr/\u003eThe SEC complaint filed on Tuesday focuses on the billionaire's offshore investment bank, Stanford International Bank Ltd., where an estimated 8 (b) billion US dollars is now being controlled by a team of accountants working for Vantis Business Recovery Services. \u003cbr/\u003eAntigua's banking regulatory commission said it appointed the British firm as receiver to protect the reputation and integrity of its banking sector.\u003cbr/\u003ePrivate international banking has been used worldwide to protect assets from economic crisis, hyperinflation, political instability and high taxes. \u003cbr/\u003eUS authorities allege that Stanford lured these clients by promising unrealistic returns on certificates of deposit and other investments. \u003cbr/\u003eAnd offshore banking experts say he chose an ideal headquarters, an island where he could acquire power, prestige and even a knighthood to help win investors' confidence while keeping enforcement agencies at bay.\u003cbr/\u003eWhile these clients' life savings are now at risk, experts say red flags were clearly flying in Antigua, one of the world's least-regulated and least-transparent banking havens.\u003cbr/\u003eStanford was warmly welcomed in 1990 as Antiguan politicians sought to diversify their tourism-dependent economy. \u003cbr/\u003eBefore long, he acquired dual Antiguan citizenship, became the largest private employer and developed a level of influence over local regulators that worried US watchdogs.\u003cbr/\u003eAs the SEC and FBI pursue civil and criminal probes of Stanford's vast holdings, jobs are in jeopardy across Antigua.\u003cbr/\u003eStanford's Antigua enterprises include a 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