Stanford’s Antiguan receiver could find as much as $1 billion

According to a report from the Houston Chronicle, Nigel Hamilton-Smith, the Stanford International Bank receiver based in Antigua, might be able to amass as much as $1 billion in scattered assets. However, Hamilton-Smith said that SIB may have held as much as $7.2 billion in the alleged Ponzi scheme instruments, the certificates of deposit. Of the $1 billion that could be accessed, only $46 million is in cash assets, $470 million was dolled out in loans or other company investments and $472 million is stashed with other banks or financial institutions across the globe. And according to the receiver, at least $650 million was paid out to Stanford Group in management fees over a 10-year period, starting in 1998. To read more from the Chronicle story, click here.—Olivia Watkins