SAN JUAN, Puerto Rico: The Caribbean offshore bank at the center of an alleged Ponzi scheme by a wealthy Texas businessman has a $6 billion shortfall between assets and liabilities, a court-appointed liquidator reported Friday, confirming fears that investors will likely get little of their money back.
Stanford International Bank Ltd. in Antigua, run by financier R. Allen Stanford, owed about $7.2 billion, including interest, when regulators closed it in February after the U.S. Securities and Exchange Commission alleged it was offering fraudulent certificates of deposit, the liquidators said in a letter to investors.