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BREAKING: Court orders Global Bank to pay depositor his over US$ 10 million with immediate effect
Gaston can use some of wealth he acquired since becoming priminister to pay back the man his money, if Stuart Young and global bank can’t pay.
Thou shall not covet!!
Why is the Antigua Government giving Government Treasury Bills to secure Global Bank’s obligation to pay this private bank account holder? What really happened here? I was not aware that the Government is in the business of providing deposit guarantees to depositors on behalf of private offshore banks. WTF is going on?
@Not So Common…
…Jumbee_Picknee, would also like to know!
🎶oh! I would really like to know!
…who’re really running this show!
🎶side_show, or Papi_Show?
…as, to what can really, #really, really go so?
🎶really go so! What can go so?
…but, this is #Not_So_Uncommon!
🎶Not So Common! Not So Uncommon!
…but, please take a look at #Who’re in Command!
…I’m just a Common man!
…yet I too, just like you do, do understand!
…so, I’ll direct you, to our #New #Racan
…in these times, he goes by the name #Ten ‘man!
…always with a rancid red herring. in his hand
…covering the deeds, of Mr. Browne
…but, he’d better Tek Warning!
…’cause, a New Day is dawning
…and, once the Election is done!
…early the next morning!
…many, like #Tenman will be running
…running, like they’re Crazy bawling!
…Jail ain’t no fun ! This shit ain’t no fun!
…even though, the INVESTIGATIONS have just begun!
…So, Run! Run! Run Asot run!
…Run! Run! Run Asot Run!
…since, with your evidence
…and a Win as, an INDEPENDENT
…the debates in the next Parliament
….will surely provide proof, of malfeasance
…now, off to the Courts; and, you’d better can prove your #Innocence!
…this is my two cents,
…and, even if you’re #Not So Common
…gud gad! Oh good gad!
…I hope you’ve started a #Fad!
…since, we need people with more #common sense!
…Now! Right about now! Right. Right now!
…to those sitting on the fence!,
…even those, who could care less
…please!🎶🎙please! Please don’t get careless!
…’ cause, just like this banking mess!
…which will be hard, very hard for many to digest!
…while wondering, #Almighty? What can be next?
…We just barely missed being hit by the #Crypto FTX.
…So, is this episode of Takes n Tales From The Crypt!
…some might commit suicide,
…because, by our laws they didn’t abide
…and end up pushing up Daisy’s, from 6feet6
…now, they’re FaceTiming from #666!
Ras Smood aka Jumbee_Picknee
De ‘ole Dutty Peg Foot Bastard
Vere C. Edwards
Do you understand how banks work? A depositor’s money is used to buy investment vehicles, including Government Treasury bills, which in turn gives the depositor a good return on their money. If a depositor asks for their money early, it means that these investment vehicles must be liquidated.
This is what happens when GB uses close friendships and connections to access loans from the bank. We know that this government doesn’t like paying its debts. Telling the man that his money was used to develop the country. The government owes the bank $13.5million US in issued treasury bills. Where is the bank going to get the funds? Is the government going to redeem its treasury bills? We shall see. They have been borrowing to pay civil servants, so we know they are broke.
Who is paying the millions of dollars for the one nation concert. See where the priority lies? GB is rich so he can loan the bank the funds to pay the man.
Wait, so the government no min do the same for ABI so that it nah collapse? If ee good fu one, wha mek is nah good fu de other?
#Badmind go kill aryou!
@Carter,
stop write foolishness. You should say if is bad for one it is bad for the other. You are saying that if one government caused a bank to collapse, then it is right for another government to do the same. Where the hell you red koolaid drinkers come from? You are frigin dumb. Hope people like you are in the minority in Antigua, otherwise we sall.
@ not so common
The government use the man money and didn’t know the man want back his money before time that’s why the prime minister was taken side about it. Really bad ,that’s why I always say Banks must be run independent.
If there is a change of government all hell break lose…then the people of Antigua and Barbuda will see shitttt. GB cannot afford to lose this election. The UPP under Lovell is not the same as the one rule by Spencer. There will be no deals, no cover up….the jail is waiting.
Crooks United. Gaston say the depositor greedy because he wanted all his money. Can’t wait for this crazy man to go!
Don’t hold your breath ’til you’re blue in the face! But then that symptom is already evident. Lolol
This is what exactly happens when politicians like Browne gets involved and interfere with how the banks should run their own financial affairs – it gets worse!
Only 11 days to go before the world respects our political change for a brand new beginning. Can’t wait …
Let’s just say the relationship between CUB and Global – The ambassador to China and passport sales – Missing depositors money in CUB and GBC – government owning 30% of CUB with the right as a shareholder to borrow as it likes with board approval – SAYS EVERYTHING.
Corruption carn done!
Pity Lovell and his Keystone cops couldn’t rally a good enough opposition to bring an end to this (in the words of Rice Pudding man) endemic tiefinness
See we don’t discuss loans anymore in parliament. The government is not of the people, for the people, except at election time.
They are borrowing left, right and center without bringing it to us their employers. We don’t not know the total extent of the national debt. We don’t even know how much we owe Caribbean development Bank.
We hire people to run our business ( and inli
I was saying we hire people to run our business/country and the only time they become your subordinate is a few weeks before election.
Never deal with Off Shore Banks for they are not regulated.
GLOBAL BANK OF COMMERCE,FTX,CUB,YIDA,WIEZ.WHAT DO THEY ALL HAVE IN COMMON? ANSWER: GASTON BROWNE HANDS IN THE MIXTURE.
A Customer deposited his money into Global Bank of Commerce. He then proceeded to withdraw those monies from his account. Only to be told he could not get those monies he deposited then. He made that matter public which was his rights so to do. How the heck Gaston “Knows It All” Browne got involved into that matter is still a cause for concern. For it was between an Off Shore Bank and its Customer. Does Antigua own any part of Global Bank of Commerce? Are the Tax Payers monies tied up into that Washing Machine? Just asking,not accusing. I forgot Stuart-Young and Gaston Browne are like Siamese Twins.
Another STANFORD all over again. Nothing less than another ponsi scheme. This time the government is in it up to their necks!
@Tek Time. Go to hell out and vote and stop your nonsense. Generations to come will thank you. READ DEAD!!!!!!
Global Bank of Commerce collapses amid financial mismanagement and questionable business practices leading to crushing allegations against the leadership of the Bank, the Antiguan Financial Securities Regulatory Commission (FSRC) and the Minister of Finance and Prime Minister, Gaston
Browne.
Antigua & Barbuda – January 6, 2023 – In an order, made on November 9, 2022,
that took effect this afternoon at 4:00pm AST Judge Carlos Cameron Michel of the Eastern Caribbean Supreme Court in the High Court of Justice, sealed the fate of Global Bank of Commerce placing it in legal default for failure to pay
depositors.
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