Yet Another Shell Bank

At a time when the vast majority of jurisdictions, prudential and otherwise, are distancing themselves from single shareholder banks and those that only exist in filing cabinets, sadly some do not heed the warnings or adopt global standards.

Apparently, the Financial Services Regulatory Commission of Antigua and Barbuda has granted a Class I International Banking License to a Julius Capital Bank Inc., which was incorporated in May 2019, in Antigua and Barbuda.

Observers will recall that this is the Commission that oversaw the R. Allen Stanford debacle, which is still arguably the world's greatest bank robbery.

It is important not to confuse Julius Capital Bank Inc with the long-established and well-respected Julius Capital, a Chicago based credit facilitation company and/or the historic Julius Baer Bank, headquartered in Switzerland.