The request by Kachroo Legal Services, P.C. to initiate an investigation attached the recently filedMotion to Intervene and Declaration based on the malfeasance and waste of the receivership which to date has consumed all collected assets, $120 million. The motion also details an inside deal between the Receiver and the Official Stanford Investor Committee which provided a pre-approved 25% percent contingency fee to attorneys on the Committee who have not objected to any of the Receiver’s fees. This is despite their role of holding the receivership accountable and on track and their right to raise and be heard on any issue in the Receivership proceedings.
The Inspector General will likely investigate the SEC’s failure to appropriately oversee this Receivership. The last objection concerning overbilling by the Receiver Ralph Janvey filed by the SEC was over one and one-half years ago.
For further information please contact Kachroo Legal Services, P.C. at (617) 864-0755 or firstname.lastname@example.org. For further information about Kachroo Legal Services, P.C., please review our website www.kachroolegal.com.