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Message: Stanford International Bank 2.5 billion in Venezuela gone?
Without problems Stanford Bank in Venezuela
Thursday, 19 of February of 2009

Maria Ramirez Hair

After which the Commission of the Stock market of the United States accused Robert Allen Stanford, proprietor of the financial group Stanford, to deceive the investors through fraudulent operations by US$ 8,000 million, the board of directors of Stanford Bank Venezuela S.A. informed generally to the public opinion - to traverse of an official notice that is an institution whose assets consist of loans to Venezuelan clients and counts on a portfolio of titles values of Venezuelan companies.

The organization clarified that it does not own investments in titles values abroad and also does not consolidate with the rest of the organizations at international level, discarding this way a possible financial impact by the freezing of the accounts of the main shareholder of the group.

“Stanford Bank Venezuela is an institution supervised by the Supervision of Banks and other Financial institutions (Sudeban), thus fulfill all the established parameters that the Law of Banks in Venezuela demands”.

In such sense, to offer a greater tranquillity to its clients, Stanford Bank has asked for to the Supervision of banks a permanent representative in its board of directors, to the aims to offer a greater transparency to its users.

The official notice emphasizes that at the moment “the bank is reporting important benefits and their gains are reinverted in Venezuela. Also their patrimonial indices of solution and solidity demanded by the international and local norms, are fulfillment altogether”.

The holder of the Supervision of Banks and Other Financial Institutions (Sudeban), Edgar Hernandez, called to the calm to the clients of the banking organization, assuring that the institution maintains its solidity. “(Monday) in afternoon some retirements (restorations) extraordinary of the bank began Yesterday; today (mates) in the morning also. We want to inform that the bank is without problems so that they are calm and they do not have fear with his deposits”, said the civil servant.

Stanford Bank located in the Old Caribbean island is one of the fraud defendant and it is presumed that 2,300 million in deposits of Venezuelans exist around US$.

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