Venezuela seizes Stanford-owned bank

Venezuela’s government seized a local bank owned by Allen Stanford Thursday as politicans and banking regulators in the region attempted to quell panic after the flamboyant Texan financier was charged over an alleged multibillion dollar fraud scheme. Customers in Latin America and the Caribbean have been queuing up or logging onto online banking services to withdraw money from institutions owned by the Stanford Group

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Stanford saga prompts run on banks

Politicians and banking regulators across Latin American and the Caribbean called for calm Wednesday after panicked investors pulled their money from banks owned by the Stanford Group, whose owner is accused in a multibillion dollar investment and sales fraud scheme.

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