Depositors also besieged Stanford's smaller, onshore Bank of Antigua, as well as operations in Venezuela and Panama.

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Hundreds of depositors of Sir Allen's Bank of Antigua in Antigua also sought to withdraw their funds on Wednesday, although the bank is separate from SIB.

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Should they have realized that even though the island of Antigua provided tax breaks to the bank, they were not enough to account for the above-market rates of the CD?

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