COALICION VICTIMAS DE STANFORD AMERICA LATINA (COVISAL)

FOR IMMEDIATE RELEASE

Stanford Case: The Arrogance of the Receivers Deepens the Agony of Thousands of Innocent Families, Victims of the Fraud
Caracas, VENEZUELA. September 30, 2011. The Coalicin Vctimas de Stanford Amrica Latina (COVISAL), in defense of the rights of the non-US victims, sent a letter last September 18 to the new Joint Liquidators of Stanford International Bank Limited (SIBL), Marcus Wide and Hugh Dickson, with a copy to the US Receiver, his litigant attorney and to the Official Stanford Investors Committee. This letter expressed our indignation for the dishonest handling of the Stanford Ponzi scheme in Antigua and the United States that has hidden guilt and evaded responsibilities, without regard to the suffering of the innocent victims who have lost their life savings. Jaime R. Escalona, founder and leader of COVISAL said, Since the SEC filed the civil lawsuit against R. Allen Stanford, his companies and related parties in February of 2009, COVISAL has persistently begged the US Receiver and SIBLs Joint Liquidators, through letters and press releases, to set aside their pettiness and economic interests in order to end the shameful game of cat and mouse that has wasted the Stanford victims patrimony in a neverending carrousel of litigations as a result of their irrational pursuit to control the assets. It is unacceptable that the Courts in Antigua and the United States, in detriment to the Stanfords victims, have allowed the Joint Liquidators and the Receiver, who were named to prevent the waste and squandering of the creditors' patrimony, to continue fighting for the assets - duplicating costs and efforts, and hindering the possibilities of a pro rata distribution of the victims patrimony, Escalona added. As is evident in documents presented to the Courts, entities of the legislative, regulatory and of justice departments in Antigua and the United States conspired to allow R. Allen Stanford keep a fraudulent financial empire alive for more than a decade.

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Press Release - September 30, 2011

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COALICION VICTIMAS DE STANFORD AMERICA LATINA (COVISAL)

It is undeniable that the Stanford Case has shown a lack of ethics and morality, COVISALs leader expressed. We perceive that the case has been managed with very little transparency. We are concerned that the Joint Liquidators and the Receiver continue to be a part of the problem and not a part of the solution. Why prolong the agony of the victims for a jurisdictional battle? COVISALs members, in their letter of September 18, 2011, begged the Joint Liquidators of SIBL and the US Receiver to set aside their arrogance in order to establish a Cross-Border Insolvency Cooperation Protocol without any further delay - for the benefit of all Stanfords victims. To read this letter addressed to the new Liquidators in Antigua by COVISAL, please access the following links: In English: In Spanish: http://www.scribd.com/doc/65833229 http://www.scribd.com/doc/65833713

If you would like to read other COVISAL publications, you can access them for free, in chronological order at the following link: http://scribd.com/jaenrodes With conviction and perseverance we will continue denouncing dishonesty, opportunism, and discrimination until we accomplish equity in this monstrous fraud that still continues, Escalona concluded. COVISAL cries out for justice before the world! Contact: Jaime R. Escalona http://scribd.com/doc/52189704 Twitter: @COVISAL Caracas: (58 412) 617 2438
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http://es.scribd.com/jaenrodes jaenrodes@gmail.com Texas: (512) 377 9255

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Press Release - September 30, 2011