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Mr Stanford is being sought by the US Securities and Exchange Commission (SEC), the Wall Street regulator, after being charged with a multi-billion-dollar fraud, boasted of having customers in 140 countries.
As the charges against him became clear, panicked investors in the Caribbean and Latin America rushed to withdraw their savings from banks linked to his financial empire. Baldwin Spencer, the Prime Minister of Antigua, where he was the island's largest employer, said that the ramifications for the island in terms of investment and jobs could be "catastrophic".
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