From Mexico City to Caracas, hundreds of depositors lined up to pull money out of Stanford affiliated banks.
Regulators said they don't know where Stanford is. Fred Katayama reports.From South to North America, hundreds of anxious depositors lined up. They're rushing to pull out their money from banks affiliated with the Texas billionaire accused of fraud. This after U.S. regulators charged Allen Stanford with a "massive" $8 billion dollar fraud.In Houston, Texas, investor Romina Sumpter stood outside Stanford's U.S. headquarters.(SOUNDBITE)(English) Romina Sumpter, investor, saying:"I pray I don't lose everything I invested because it is my inheritance, and it only happens once in a lifetime, and I'm sad to see Mr. Stanford is doing this."Venezuelan bank regulators said Venezuelans had invested billions of dollars in Stanford's bank branch on the island of Antigua.In Antigua's capital, St. Johns, the line stretched around the corner of the Bank of Antigua. More than 600 people waited even though authorities said the bank had sufficient reserves and is separate from Stanford's affiliate that faces U.S. charges.In Mexico City, the dozens who lined up were mostly middle-aged and elderly. Karyna Kleinckwort, a widow, had invested all of her money there. She said, "We don't know what's going on. We are really worried and desperate."Regulators said they don't know where Stanford is. Using his Antiguan affiliate, Stanford International Bank, he's accused of fraudulently selling certificates of deposits that boasted higher than normal yields. But the Stanford case is a lot smaller than that of the 50 billion dollar fraud allegedly carried out by money manager Bernard Madoff. And so far, no criminal charges have been filed. Fred Katayama, Reuters.
