{"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='Antiguan officials seek to reassure public after fraud case' data-url='/boclips/videos/5c54c49bd8eafeecae16a147' data-video-url='/boclips/videos/5c54c49bd8eafeecae16a147' 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\nAntiguan officials seek to reassure public after fraud case\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 Bank of Antigua2. Mid of bank sign3. Close of building4. People walking out of bank door5. SOUNDBITE: (English) Levene Clark, Bank of Antigua account holder:\"They're working because we're getting our money. We go to the bank,...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of Bank of Antigua\u003cbr/\u003e2. Mid of bank sign\u003cbr/\u003e3. Close of building\u003cbr/\u003e4. People walking out of bank door\u003cbr/\u003e5. SOUNDBITE: (English) Levene Clark, Bank of Antigua account holder:\u003cbr/\u003e\"They're working because we're getting our money. We go to the bank, we make our withdrawal, withdraw it and it's okay for me, I don't know about anybody else.\"\u003cbr/\u003e6. Wide of Antigua Finance Minister entering news conference\u003cbr/\u003e7. SOUNDBITE: (English) Dr. Errol Cort, Antigua Minister of Finance:\u003cbr/\u003e\"Over the past several days, the resilience of the domestic banking system sector as well as the strength of the regulatory framework that governs the financial system of the Eastern Caribbean Currency Union (ECCU) Area, was put to the test.\"\u003cbr/\u003e8. Cutaway of journalists\u003cbr/\u003e9. SOUNDBITE: (English) K. Dwight Venner, Governor of Eastern Caribbean Central Bank:\u003cbr/\u003e\"I would just like to pause and reflect on the rather abnormal and difficult circumstances that we find ourselves in and the need for calm and understanding by all concerned.\"\u003cbr/\u003e10. Cutaway of journalist\u003cbr/\u003e11. SOUNDBITE: (English) Dr. Errol Cort, Antigua Minister of Finance:\u003cbr/\u003e\"The situation clearly demanded prompt and decisive action in order to reassure citizens and residents who were customers of the Bank of Antigua that their deposits and other financial instruments in respect of the bank remained secure.\"\u003cbr/\u003e12. Pan of news conference\u003cbr/\u003e13. SOUNDBITE: (English) K. Dwight Venner, Governor of Eastern Caribbean Central Bank:\u003cbr/\u003e\"I'm pleased that the crisis has started to abate since last week. And today there were no crowds outside of the bank, nor was there a crush in the bank at all, which means that we are on the way to a state of normality. But a lot of work needs to be done to restructure the institution to ensure that we have a strong and viable institution under this new umbrella.\"\u003cbr/\u003e14. Wide of Stanford International Bank\u003cbr/\u003e15. Mid of sign\u003cbr/\u003e16. Wide of Stanford International Bank investor on pavement outside bank\u003cbr/\u003eAntigua's Finance Minister on Monday said the financial system of the region had been put to the test by the allegations of fraud against R. Allen Stanford, the country's largest private employer.\u003cbr/\u003eSpeaking at a news conference, Errol Cort said \"prompt and decisive action\" was taken to reassure the nation's citizens and the Bank of Antigua's investors that their deposits remained secure.\u003cbr/\u003eThe governor of the Eastern Caribbean Central Bank, K. Dwight Venner, said the crisis that began last week in the Caribbean region had \"started to abate\" but added that \"a lot of work needs to be done\" in the Antiguan financial institutions.\u003cbr/\u003eCaribbean regulators took control last week of an Antiguan bank - owned by Stanford, the Texas billionaire, to prevent its collapse.\u003cbr/\u003eThe Eastern Caribbean Central Bank, the monetary authority for eight island economies in the region, said the Bank of Antigua's board of directors requested the intervention because of the \"untenable situation\" at its three branches in the twin-island nation of Antigua and Barbuda, where people have rushed to pull out their money. \u003cbr/\u003eThe US Securities and Exchange Commission (SEC) has accused Stanford of running an 8 (b) billion US dollar financial fraud scheme. \u003cbr/\u003eThe Central Bank governor has not disclosed how much money has been pulled from the bank since Tuesday (Feb 17th) , when US authorities announced civil fraud charges against Stanford but warned that the bank could face liquidity problems. \u003cbr/\u003eStanford's businesses employ hundreds of people in Antigua and include two restaurants, a newspaper, cricket grounds and a development company, and a three-branch local bank as well as the headquarters of his offshore bank in the island of about 80-thousand people.\u003cbr/\u003eThe SEC filed the lawsuit last week accusing Stanford of a \"massive\" fraud through Antigua-based Stanford International Bank Ltd.\u003cbr/\u003eStanford, who was served legal papers by FBI agents last week and ordered to surrender his passport, hasn't been charged with any crime.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead 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