The mastermind behind the billboards designed to push for Jack Stroll to retrieve his funds from the Global Bank of Commerce is demonstrating cleverness by now producing cellphone cases to support their cause.
The man behind the production of the cases says they will be available for purchase on Amazon and eBay.
Despite the humor in this approach, the situation is quite serious as Canadian businessman Jack Stroll continues his efforts to recover millions of dollars held by the bank.
Stroll voiced concerns about the bank’s financial stability several months ago, as other prominent clients of Global Bank reportedly encountered difficulties accessing their funds.
Stroll has been attempting to withdraw his substantial sum—intended for transfer to Canada—for over three years.
In an effort to address liquidity issues, the bank had previously provided Stroll with two government Treasury bills totaling US$13.5 million as collateral.
These bills were originally obtained by the bank through a monetary exchange with the government of Antigua and Barbuda and were intended to generate interest for the bank.
However, Global Bank ultimately surrendered the bills to Stroll as collateral against the funds he sought to withdraw.
A payment arrangement was established between Stroll and Global, with legal documents specifying that Global was to repay over US$9 million to Stroll in five installments between January and May of the previous year.
However, the bank defaulted on these payments, leading Stroll to pursue legal action. Although Global has reimbursed a portion of Stroll’s funds, a significant amount remains outstanding.
Stroll has filed lawsuits against Brian Stuart Young, the CEO of Global Bank of Commerce, and Attorney General Steadroy Cutie Benjamin, representing the Crown, for breach of contract related to one of the Treasury bills valued at US$10 million.
While Stuart-Young has never commented in the media, Prime Minister Gaston Browne attributed the bank’s inability to transfer funds to a limited influx of deposits coupled with a high volume of client withdrawals, thereby diminishing the bank’s liquidity.
Browne accused Stroll of acting vindictively and seeking to bankrupt Global by attempting to withdraw such a substantial sum. Additionally, Browne repeatedly accused opposition parties of politicizing the matter.
Stroll countered Browne’s assertions, demanding accountability for the bank’s governance and regulatory oversight.
Global Bank’s website indicates that it is regulated by the FSRC, the regulatory authority that supervises international banks in the country.
The FSRC, whose Chief Regulatory Officer is Paul Ashe, has never issued a public statement on the matter.
