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Stanford Bank

Venezuela Buys Bank of Venezuela for $US 1.05 billion

May 25th 2009

The Venezuelan government will pay the Spanish Santander Group $1.05 billion for the Bank of Venezuela, which was nationalized on July 31 2008.

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Government Takes Over Venezuelan Branch of Stanford Bank

Feb 20th 2009

Doors of Stanford Bank Venezuela are closed in Caracas. (EFE/Harold Escalona)
After hearing that Allen Stanford’s assets had been frozen, some Venezuelans panicked and withdrew their savings from Stanford Bank Venezuela, prompting the government to take it over.

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