Stanford's clients: 'Show me the money'

February 19, 2009 7:08:18 PM PST
Allen Stanford's customers all around the world are asking, "Where's my money?" They are making a dash for cash, and many are being turned away empty-handed. [SIGN UP: Get headlines and breaking news sent to you]

There is confusion in Antigua, the site of Stanford's bank headquarters, as to where Stanford is, but more importantly where his money is. Many investors have been coming to the small Caribbean island for days now to visit Allen Stanford's international bank.

It's a beautifully landscaped compound within view of the airport in Antigua. It's here that the $8 billion dollars at the center of what the SEC calls a "massive fraud" is supposed to be housed.

When we tried to ask even the simplest questions, bank guards shooed us away. International investors have been told to wait at least five days to withdraw any of their money.

Stanford does have another bank, the Bank of Antigua, in Antigua's capital city of St. John's,

"They tell us not to panic," said a woman.

When asked if she was panicking, she simply replied, "Yes."

It is a local bank and all day, hundreds of people have been lined up to get their money. Inside, bank officials held meetings while investors nervously waited outside.

"I have $350,000 in there and I can't get a penny," said a man.

Allen Stanford cannot hide in Antigua where he is known as Sir Allen, after being knighted a few years back by this Caribbean nation. He's also well-known by his business, society, and sports interests.

Reports have Stanford popping up in the Caribbean, while other reports say he's in the States, but no one knows where the billionaire is.

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