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Antigua staff back at work at paper owned by Stanford

Published:Wednesday | April 21, 2010 | 12:00 AM

The staff of a daily newspaper owned by jailed Texas financier Allen Stanford is still putting out the paper despite an announcement that it would close, an editor said Monday.

Employees of the Antigua Sun returned without pay because they want to keep the daily in the public's eye, managing editor Timothy Payne said.

He said several financing options are being considered to keep the newspaper afloat but did not provide details.

Monday's 16-page edition did not mention the paper's financial problems or the staff decision to continue working.

Employees received letters Friday from the Stanford-owned Sun Printing & Publishing saying the company could no longer sustain operations and they were being laid off immediately.

The company said the Sun's sister paper, the Sun St Kitts and Nevis, also was closing.

The two newspapers had a combined circulation of 4,800.

The publishing company is among several businesses owned by Stanford, who was charged last year with operating a US$7 billion Ponzi scheme. He has pleaded not guilty.

Stanford provided loans to Antigua's government and was the country's largest private employer, with businesses including a development company, a cricket stadium and an airline.

- AP