According to officials, who are appointed to liquidate Stanford International Bank (SIB), it will take at least five years to locate money lost by investors in the alleged $8bn �??Ponzi�?� scheme run by Texan billionaire Sir Allen Stanford.
Financial assets lost $50,000bn worldwide (Headlines)
Financial assets worldwide might have lost more than $50,000bn, equivalent to a year�??s global economic output, according to a report by the Asian Development Bank (ADB).
HSBC�??s consumer finance division will require further capital injections for several years, the bank admitted Monday, as it revealed the business had destroyed about $10bn in shareholder value since it was bought six years ago.