PM calls depositor “greedy” after he sues Global Bank for $10 million of his deposits

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Prime Minister Gaston Browne is defending CEO of the Global Bank of Commerce Brian Stuart-Young.

Stuart young is being sued by a customer of the bank for failure to pay over US$10,000,000 in deposits.

Browne says the customer is “greedy” and that the lawsuit is meant to destroy the bank.

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33 COMMENTS

  1. Why the depositor who want his money can’t get his money.
    Look! the Board of ECAB, take good note. You see Gaston’s intension.
    If you give into Gaston, you might get sued in your personal capacity!
    STAND FIRM BOARD OF ECAB.

  2. Like a said earlier. This a one Ponzi scheme. Give de man his money. You can’t give me back my deposit! Something wrong. Something Smell like rotten. Something smell like cooks dump.

    FSRC. Do you job.

  3. They are both crooks with years of experience in manipulating OPM – Other people’s money. Hiw would Gaston Browne feel if he went to one of his overseas accounts only to be told that “your money is tied up in national development.” This is not the CIP. There are provisions in the CIP where participants know that they are supporting national development. But why should a depositor be concerned about that? Your statement really confirms that you need your head examined. If Gaston’s conversation with the depositor went the way he described i.e. telling him that “his money is tied up in national development”, I can see why the depositor took Global Bank to court. Any rationale person would.

  4. The depositor is being ‘greedy’???
    To want his own money???
    What is dis the world is hearing from the leader of the country?

    Global recession in the works and PM appears to be broadcasting A&B offshore banks are under capitalized, unable to move funds, unable to pay customers their own money.

    A&B in danger of becoming very isolated.
    That’ll hurt for all arwe.

  5. Spite? When a depositor asks for their funds from a bank they are operating out of spite? Maybe the man needs his money. Maybe he wants to buy something. Is he not entitled to his own money when he wants it? Why does he have to be branded as spiteful simply for trying to access his funds? This is not right nor is it fair. If any of us tried to withdraw our funds from our bank and the bank refused, we would be very upset and angry as it is our funds. This man is not acting out of spite. He had enough trust in this bank to deposit his funds there. He just wants access to his funds.

    • @ Regulators
      How effective is the FSRC? I guess like most government and quasi government operations in Antigua they have to get the green-light from Gaston before they can act.
      SMH

  6. Reading these comments reflect the commentators low budget mentality. There is no bank on this planet that gives anyone ALL of their money if it’s in millions of dollars. They give guarantees but never cash. Banks don’t keep liquid cash on hand. The bank representative did the correct thing by offering bonds and stocks instead of cash. Anything over one million is never given right away or on the spot. This is such nonsense and the courts will support the banks move. Take note the amount of money guaranteed by the banks insurance in the event of a financial crisis. One million is guaranteed by two hundred thousand so read the fine print. Stop the political rhetoric and put on your fiscal comprehension of banking regulations.

    • The lawsuit shows over two years of waiting and various promised payment dates/plans that were never met. Not sure your logic holds up,
      My friend.

    • Nothing sells your point better that starting your explanation off with telling people they have “low budget mentality”

    • @Professor, a depositor can request all his funds at anytime. True that banks do not dispense large amounts of cash but this is an offshore bank which does not deal in CASH. You are so bright….and still you don’t know anything. Obviously the man would have requested a funds transfer. Some of you are quick to defend stupidity. Whether CIP citizen or not, what does a stock or bond in Antigua do for me in Mexico where I actually live? I swear some of you all born through rear ends.

      • @well tell me. Well said sir,well said. Sometimes I read these comments of people who are just trying to defend ignorance, just to end looking really stupid.lol

    • That is such utter nonsense. When making a withdrawal outside of the bank’s normal daily withdrawal limit. A commitment is made by the bank to have the funds available in x amount of days. If we are dealing with a regular operating bank. A cashiers check or cash will be made available on the commitment date!

      Damn! Where you get that kind of information?

    • This is pure obfuscation. You are trying to legitimize a patently wrong deed done to a depositor by introducing non-issues regarding bond, etc., where no crisis exists.

      Naturally, the normal waiting period which, based on the established banking policy in our jurisdiction should be about a month or so, would apply once the request for the withdrawal is made, given the sum involved.

      In law the reasonableness principle would apply. For a depositor to effectively be barred from getting his/her own money for an extraordinarily long time is unreasonable and illegal. And the notion that such funds’ value would be remitted in the form of a bond is equally unlawful where no apparent crisis exists, especially in the banking industry.

      What may exist is an irregular management practice regarding the use of depositors’ money, or something mush more grave.

      I dare say that the user of the nom de plume, Adjunct Professor, may find the term Adjunct Deceiver a more appropriate handle to style him or herself, in the context of the situation.

  7. By the way, a depositor with over $2.5 million goes into a commercial account. They are treated differently from someone with $50.00-500,000. Therefore, if it’s a commercial account there are other avenues for withdrawals and transfer than a personal account. The bank representative was prudent and professional in this instance. The depositor knows it, but with the political climate small pockets are comparing their tuppence to his millions.

  8. The last person to famously use the “Not A Crook” line was Richard Nixon. A notoriously corrupt person.

    • Just like Nixon took the dollar off the gold standard, Gaston has asked Director Stuart to defend ECAB against the speculators. Lol

  9. Well browne boy saying how young is his good friend you can’t expect him to call his partner in profits a crook but this is just business as usual in A & B now see why so much failed projects and businesses in Antigua and to make it worse browne boy calling the man greedy for asking for his money it’s a good thing it’s not the other way around he owed the bank.

  10. Greedy for wanting his own money back??!! Who is more greedy than Gassy himself. I really wish some
    Intelligent, educated young men and women would come up and run for prime minister, need to get rid of these small minded, small thinking people in government

  11. I hope this is not how Gaston talks to investors, calling them greedy at the negotiating table. It’s no wonder he can’t close any deals. Wrong, strong and arrogant.

  12. With warped thinking like this, it is time for Gaston to go. He cannot think straight due to his closeness to Stuart-Young and is resorting to abusing this depositor rather than looking at the current situation and acknowledging that this depositor is entitled to his money but has not been paid. Abusing the depositor is clearly wrong. Gaston is well beyond his “use by date”.

  13. Gaston Browne you are a damn clown.Please go and join Ringling Brothers,Barnum and Bailey Circus.You are saying the man is greedy.It is his damn money not yours,Hitler Browne.You put the people money into that Offshore Bank,Global Bank of Commerce.Did you get the permission of the Citizens to deposit their monies into that Laundromat of a Bank? In the past 8 years you have spent the State money as your own.You have never had any consultations with the people on any matters affecting the Nation. I cannot wait to see your arse and that of others being kicked out on ELECTION DAY.CALL THE DAMN ELECTIONS NOW,YOU DID CALL IT EARLY IN 2018.You as the smartest person on EARTH.You gave away 30 ACRES of Beach Front Property to a man from a United ARAB EMIRATES.He was supposed to be an Investor Could you tell me,other than enriching himself with our lands. What the hell did the people of Antigua and Barbuda get from that transaction,ZERO. Could you tell me who invited that man to Antigua? Could you also tell me,who got the kickback from that transaction?You are so smart yet the man outsmarted you and took our lands/deed to the BANK. LOL

  14. Mary wanted to continue run the bar she could say you are greedy for forcing her out also. A man that will never accept his faults and failures and always believe he is right is not someone to listen to

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