Expressing the sense of the House of Representatives regarding the Government of Antigua and Barbuda and its actions relating to the Stanford Financial Group fraud.

Bill: 112-hres-507
Sponsor: Rep. Coffman, Mike [R-CO-6]
Introduced: 2011-12-20 in the House
Policy area: International Affairs
Subjects: Antigua and Barbuda
Bank accounts, deposits, capital
Caribbean area
Crime victims
Criminal investigation, prosecution, interrogation
Financial services and investments
Foreign aid and international relief
Foreign and international banking
Foreign loans and debt
Fraud offenses and financial crimes
Jurisdiction and venue
Latin America
Multilateral development programs

Summary:
action_date: 2011-12-20
text: 
Expresses the sense of the House of Representatives that all further assistance provided by the United States to Antigua and Barbuda should be suspended until Antigua and Barbuda provide complete redress of specified issues regarding an investigation of the Stanford Financial Group fraud.
 
Includes among such redress: (1) an agreement by of Antigua and Barbuda to be subject to the jurisdiction and bound by the judgment of any U.S. court that adjudicates the claims relating to the Stanford Financial Group fraud; (2) the transfer of the assets seized by Antigua and Barbuda, or obtained by the joint liquidators of Stanford International Bank, to the U.S. district court-appointed receiver for the benefit of victims of the fraud; (3) a specified contribution by Antigua and Barbuda to the U.S. receivership estate for the benefit of victims of the fraud; (4) fulfillment by Antigua and Barbuda of their obligations relating to the expropriation of the Half Moon Bay Resort; and (5) an agreement by Antigua and Barbuda to neither interfere with the receivership commenced by the United States, nor seek control of assets claimed by the United States.
 
Expresses the sense of the House that the Secretary of the Treasury should direct the U.S. Executive Directors of the International Bank for Reconstruction and Development and the International Development Association (World Bank) and the International Monetary Fund (IMF) to use the voice and vote of the United States to ensure that any future loan made by the World Bank or the IMF to Antigua and Barbuda is conditioned upon providing complete redress of these matters, and satisfaction of this resolution.


Legislative actions:
action_date: 2012-02-13
text: Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade.
action_date: 2012-02-13
text: Referred to the Subcommittee on the Western Hemisphere.
action_date: 2012-01-12
text: Referred to the Subcommittee on International Monetary Policy and Trade.
action_date: 2012-01-12
text: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
action_date: 2011-12-20
text: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-20
text: Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-12-20
text: Sponsor introductory remarks on measure. (CR E2330)
action_date: 2011-12-20
text: Introduced in House
action_date: 2011-12-20
text: Introduced in House