Leroy King, Antigua's former banking regulator, wanted in the United States, in connection with his central role in the Stanford International Bank scandal, was ordered, by a local court, to be extradited in 2010. He is still a free man in Antigua, and until he is extradited, to face American justice, I cannot consider any assessment of Antigua for Country Risk, to be anything less than a high rating.
Antiguan officials, when pressed by foreign media, claim that "the case is in the courts." Are they kidding ? Six years to process an extradition means that King's case has been intentionally delayed, passed from judge to judge, all of whom pass it further along, or refuse to rule. It is not only a disgrace, it demonstrates that no politician in Antigua, elected or appointed, past or present, wants to ever let Leroy King testify that the former Prime Minister, and several senior leaders, were in bed with Allen Stanford, and reportedly received illicit payments from him.
Send Leroy King to Texas, so that justice can be served, please. Otherwise, be prepared for still more de-risking, which is necessary and appropriate, given the circumstances.
Contributed by Kenneth Rijock
Chronicles of Monte Friesner