Can you imagine anything more pointless than rushing to Antigua to try and salvage your deposits from an institution after the investigation is in full swing and the SEC has labeled the entire endeavor a fraud? What is left to do at that point? "Besiege" the offices, of course, as if there is a vault there, and you have only to wait them out until they provide you with the key to a safety deposit box that contains your pro-rata share of the loot.
The entire scene smacks of desperation, as if life savings were tied up in the bank's coffers. And after Made-off, who in the world would deposit their life savings in a single institution?
The reverberations from Texas billionaire Sir Allen Stanford's alleged $8bn fraud continued to spread on Wednesday, as Antiguan authorities attempted to calm panicked locals who had been queuing up to withdraw money from a Stanford-owned retail bank.
Depositors attempted to withdraw their money from the Bank of Antigua the day after Mr Stanford was charged by US securities regulators over a "massive" investment fraud through Stanford International Bank, the cricket bankroller's Antigua-based offshore bank.
Mr Stanford's operations in Venezuela and Panama have been similarly besieged, with hundreds of depositors attempting to withdraw their investments from local offices of SIB, Reuters reported.
And if there is no cash left? Well then, burn the witch! I think we'd actually pay good money to cover that. (Especially in Antigua). We kid... we kid. (We're serious!)
Panicked Antiguans besiege Stanford bank [The Financial Times]