SAN JUAN, Puerto Rico (AP) -- The island where financier R. Allen Stanford allegedly based a $7 billion Ponzi scheme is one of five Caribbean spots on the latest U.S. list of major money laundering countries.
A State Department report said Monday that money laundering problems in Antigua and Barbuda tied to schemes involving investment fraud and advance fee fraud have not been corrected.
The report, however, does not mention Stanford, a Texas financier accused of promising inflated returns on certificates of deposit from an Antigua bank. He has pleaded not guilty.
The overseas British territory of the Cayman Islands, which has been lobbying in Washington to thwart a crackdown on offshore financial centers, also remains on the list, along with the Bahamas, Dominican Republic and Haiti.
