Global Bank of Commerce Ltd. (GBC) has confirmed that former client Jack Stroll has already received more than US$19 million—well above his initial deposit of just under US$11 million—as part of a legal settlement, with less than US$350,000 currently outstanding. The bank emphasized that this remaining balance, comprised of interest, represents less than 5% of the court-ordered value and has been mandated to be paid by May 16, 2025.
The statement, issued in response to what the bank described as “irresponsible” online media reports, refutes claims that “not a cent has been paid” to Stroll. GBC categorically stated that such assertions are “utterly false and deliberately malicious.”
“The Bank has paid the full value of Mr. Stroll’s original USD deposit, with agreed interest,” the release noted, adding that documented evidence submitted to the Court supports this.
Citing a confidentiality order imposed by the Court, GBC said it had previously refrained from public comment. However, it accused unnamed parties of exploiting the Bank’s silence to spread misinformation that could harm the institution’s reputation, its staff, and the broader international banking sector.
“Other parties in this have exploited the Bank’s silence to peddle misinformation and sensationalism,” the statement reads. “The Bank’s prior silence must not be mistaken for a lack of transparency.”
Global Bank of Commerce also reassured the public and its clients that it has kept the Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda informed throughout the proceedings.
Founded in 1983 as the country’s first licensed international bank, GBC reiterated its long-standing commitment to client protection, regulatory compliance, and financial integrity.
The Bank concluded by condemning the spread of “unverified and inaccurate information” and called on media outlets to exercise greater responsibility in reporting, particularly when public confidence in financial institutions is at stake.
