COALICION VICTIMAS DE STANFORD AMERICA LATINA (COViSAL)
English translation
Message No. 33
July 29, 2012
To: Stanford's
victim (COViSAL)
From: Jaime R.
Escalona
Subject: COViSAL's comments on Marcus Wide communication
Dear friend,
On
July 20, 2012, the Joint Liquidator of the Stanford International Bank Limited
(“SIBL”) Marcus Wide initiated a massive e-mail campaign. He sent a
communication to all Stanford depositors in response to a letter sent by SIBL’s
depositors requesting the Joint Liquidators to drop the litigation for the
control of the $330 million of our savings frozen in England, Switzerland and
Canada, and to focus their efforts from other sources.
Mr.
Wide in his letter ignored several things, among them, recanting the statement he gave to US and English authorities, and to Stanford's victims at the Webinars,
when he said: “…One of the reason's people invested in Stanford International
Bank was that it was not the US, it was outside the US, and to find suddenly
that you are dealing with the US Government with regard to your account, may be
distasteful, and not what was intended by people who put money there.”
However,
Mr. Wide’s statement is not correct. The reality for the Latin American victims
was quite the opposite. The majority of Latin Americans deposited our savings
in SIBL because it was one among hundreds of companies that made-up Stanford
Financial Group (“SFG”), an American Holding, that operated in and from the
United States.
Furthermore,
it seems that many of his comments, in the communication of July 20, in reference
to the Department of Justice (“DOJ”), might be incorrect, and only DOJ could clarify
them.
Three (3) years, five
months and 13 days have passed since our savings were stolen, and so far we
have seen how the remnants of our savings are vanishing in the millions of
dollars in legal fees, expenses and useless jurisdictional battle between the
Joint Liquidators and the US Receiver. Additionally, the Joint Liquidators
continue to spend our money in legal fights against the DOJ for the control of
the $330 million dollars frozen in Europe and Canada.
It is quite possible
that Liquidators and administrators have an intention to help the victims of
this horrendous fraud. However, we feel that our interests are not adequately
represented because we know about the instinct
of auditing and asset recovery firms, and attorneys managing liquidations and administrations,
which is growth and generation of
fees for themselves, their professionals and their parent companies.
COViSAL’s members, and
many other Stanford’s victims, do not want that the Joint Liquidators keep $66 million
dollars to finance uncertain real estate developments in Antigua, to finance lawsuits
against third parties, or to pay professional fees to the Joint Liquidators and
their associates. We must demand that the $330 million dollars frozen in Europe and Canada are distributed completely and directly to SIBL’s victims, under the
guidelines and supervision of DOJ.
Victims require an economic relief as soon as possible to
cover their immediate medical and living expenses.
Since the Joint
Liquidators are bragging about their 60 years of experience and being a part of
a great international auditing company, Grant Thornton, ¿Why don’t they work on
a contingency-fee basis system?
If the Joint Liquidators
say they are confident about recovering 40-50% of our patrimony, then, Why Grant Thornton does not provide the financing for the recovery?
Why do innocent victims
have to assume all the risk and Grant Thornton’s Liquidators none?
Why continue killing the
innocent victims and what it is left of our savings?
We demand clarity and
transparency, and the end to stinginess and economic interest that irrationally
persecute the control over the assets wasting the insignificant patrimony of
Stanford’s victims.
With conviction and perseverance,
we will continue denouncing dishonesty, opportunism, and discrimination until
we accomplish equity in this monstrous fraud that still continues.
Let’s keep our strength
and positive energy; with faith and determination, we’ll accomplish the
restitution of our stolen savings.
Thanks and regards,
Jaime
Jaime R. Escalona
Director
Coalición Víctimas de
Stanford América Latina (COViSAL)
Twitter: @COViSAL
Caracas: (0412) 617
2438 (0414) 377 5898
Texas: (512) 377 6133 (214) 377 0355
Con DIOS, superaremos todos los obstáculos.
With GOD, we'll overcome all obstacles
La labor de COViSAL es de índole
investigativa, informativa y de difusión. NO debe interpretarse como asesoría
legal.
The nature of the work of COViSAL is research, information and
dissemination. It
should NOT be interpreted as legal advice.
