Antigua-Barbuda regulator removes directors of bank implicated in Brazilian bribery scandal

The Antigua and Barbuda Financial Services Regulatory Commission, in exercise of its powers under the law has removed three of the directors from the board of Meinl Bank (Antigua) Ltd and appointed Cleveland Seaforth, managing partner, KPMG Eastern Caribbean, as the official administrator of the bank.

In addition to assuming control of the bank, the official administrator will investigate the operations of the bank and submit a report to the Commission on the results of his investigation.

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