ANTIGUA & BARBUDA PROPERTIES

Over recent years Antigua has become one of the favorite destinations in the Caribbean for people looking for second or retirement homes. Antigua offers a wide variety in villas and land for sale from managed resorts to individually built homes and vacant building plots. The worldwide economic downturn has also affected Antigua. After years of increasing sales and sales prices the market has slowed down since the fall of 2008 and prices have come down to levels which were seen a few years ago. The property market has not seen major disruption like in many other markets and there are hardly any distressed sales. Most property owners have a large equity share in their property. Prices were not inflated and were very reasonable compared to more developed islands like Barbados, Bahamas, St Martin and St Barths. The banking scene in Antigua is dominated by large canadian banks and smaller indigenous banks. Both have been very conservative in their lending and investment policies and remain in good shape. With the current reduced price levels, Antigua offers excellent opportunities for purchasers.

Scott Rothstein's properties

Attorney Scott Rothstein tapped into millions of dollars from his massive investment scam to cover payroll costs at his expanding Fort Lauderdale law firm, federal authorities said in a court record released Monday.

Rothstein's law firm generated revenue of $8 million in one recent year, yet his 70-lawyer firm had a payroll of $18 million, prosecutors said. Rothstein, who owned half of Rothstein Rosenfeldt Adler, used investors' money from his Ponzi scheme to make up the shortfall, they said.

The allegations were revealed in an amended forfeiture complaint against dozens of Rothstein's real estate properties, foreign cars, restaurants and other assets -- including $12 million in the lawyer's bank account in Morocco, along with millions more donated to political campaign and charitable funds.

``Funds used to acquire the [Rothstein] assets came from the `Ponzi' scheme and not from legitimate RRA funds,'' Assistant U.S. Attorney Alison W. Lehr wrote in the amended forfeiture action.

Rothstein, 47, who had fled to Morocco in late October as his investment fund of legal settlements sold to wealthy investors collapsed, has not been charged with a crime. After his return in early November, FBI and IRS agents began seizing his assets and raiding his law firm.

The civil forfeiture is based on money laundering allegations that Rothstein amassed his fortune by defrauding investors, prosecutors said. Investors bought shares in his fabricated confidential settlements from employment-discrimination and other civil cases during the past four years -- investments that promised returns up 40 percent.

According to the forfeiture action, the U.S. government is now seeking to seize 15 parcels of South Florida real estate -- adding seven more to the original list. Also seized were 20 cars -- including three Ferraris, three Corvettes, two Rolls Royces, a limousine and a $1.5 million Bugatti sports car, plus an 87-foot yacht, four personal watercrafts, 304 pieces of jewelry, a guitar collection, $80,000 in American Express gift cards and $272,000 in cash.

The government is also seeking the equity Rothstein has in some 21 different companies in which he invested, including restaurants, a mortgage company, a sports agency, two banks and a biofuel company.

Rothstein also had an overseas account with Bank Populaire in Morocco, where he had $12 million. Federal authorities are seeking to seize another $2 million held in the same bank under the name Ahnick Khalid and a $1 million account held by Steve Caputi, owner of the Cafe Iguana nightclub in Pembroke Pines.

Another $1.3 million is held in four accounts at Gibraltar Bank. And Rothstein had a separate investment account holding $1.2 million.

Finally, the government is seeking more than $160,000 in political contributions and charitable donations of $800,000 to the Joe DiMaggio Children's Hospital in Hollywood and $1 million to Holy Cross Hospital in Fort Lauderdale.

Holy Cross officials announced last week that the hospital was going to return the $1 million gift, which was to be used for a new women's center with Rothstein's charitable foundation engraved over the entrance to the lobby.