Britannica
Sources used in this answer
How did the Robert Allen Stanford fraud case affect Antigua and Barbuda’s economy?
Created from Britannica articles
using AI.
AI can make mistakes, so verify using Britannica articles.
The economy of Antigua and Barbuda experienced a significant downturn in 2009 following the arrest and fraud charges brought against U.S. financier Robert Allen Stanford. Stanford was one of the country's largest investors, and it was later determined that he had operated a Ponzi scheme through his offshore bank located on Antigua.12