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FSRC building (file photo)
The Chief Executive Officer of Global Bank of Commerce, Brian Stuart Young, has been given another timeframe to pay money owed to investor Jack Stroll or face 21 days in prison.
Stuart-Young reappeared in court last Friday before High Court Judge Renee Williams after he missed a February 28th deadline to make a payment to Jack Stroll, who was owed in excess of US$ 10 million.
He is given until May 19th to make part of these payments. Stuart-Young was also fined $3000 for wasting the court’s time.
One of numerous billboards advertising the details of the case (photo by NewsCo)
So, what is this case all about?
The case’s origins date back to 2020, when Stroll took the bank to court after he could not retrieve his money from the bank. He then took the financial institution to court, its CEO, and the government.
In 2022, the court ruled in Stroll’s favour, mandating that Global Bank of Commerce and its CEO, Brian Stuart-Young, repay Stroll $10 million. Despite the court’s clear directive, the payment was never made.
In 2024, the court established a firm deadline for compliance, which also passed without any action. Another deadline came on February 28, 2025, with a stern warning that non-compliance could result in jail time. Yet again, no payment surfaced.
A circus in the courtroom
Those who were in court last Friday tell Antigua.news that what started as a simple session about a missed payment quickly turned into a courtroom spectacle worthy of prime time.
Stroll, who appeared at the court’s behest, was unexpectedly on the witness stand. When attorney Dr. David Dorsett asked whether he believed the bank had enough funds to settle up, Stroll’s reply left the courtroom in stitches—suggesting that Stuart-Young might need to sell his house and luxury car to make ends meet!
When Stuart-Young was called to testify under oath, he insisted his home in Hodges Bay was worth a humble XCD $500,000, while appraisals said it was worth a whopping USD $3 to $4 million.
Brian Stuart-Young (left) Speaks With Colleague at Just Concluded Ambassador Forum in Antigua. (Photo by Luigi Rodriguez)
He also revealed a monthly salary of USD $30,000, plus bonuses. King’s Counsel Leslie Thomas, representing Stroll, didn’t miss a beat, questioning whether the bank was solvent or if Stuart-Young was just throwing financial caution to the wind.
Stuart-Young, ever the optimist, insisted that the bank was merely experiencing a bit of “liquidity” issues.
Judge Williams slapped Stuart-Young with an XCD $3,000 fine for wasting the court’s precious time and made it crystal clear: come May 19, 2025, if the payment isn’t made, he could enjoy a 21-day ‘vacation’ behind bars.
The Antigua Financial Regulatory and Supervisory Commission (FRSC), headed by Paul Ashe, remained conspicuously silent amid escalating concerns regarding the Global Bank of Commerce and allegations of mismanagement affecting numerous investors.
21 days???? That’s it? JUST 21 days
Lol will be funny if he swallows his pride and goes to Jail for 21 days lol. Who comes up with these sentences. Would it be same for the poor man?
Dont worry the good uncle at the top will loan him the money.
On to the next news story please.
Another comedy of errors.. moving right along
Pay the man his money and done with the nonesence. I hope that this never happens to you my Young because i am sure it’s not a good feeling at all
21 Days of Holiday, This Is a Jokes
@Ryan Group, take notes…. Remember y’all have over $8mil in rent outstanding