Monthly Archives: March 2012

TD Bank, lawyers accused of “fraud on court” for presenting false “Customer Due Diligence Form” in seminal AML civil case

By Brian Kindle TD Bank, one of the world’s largest financial institutions, is facing what may be the most explosive and damaging risk it has ever confronted. In a federal district court in Miami, it was accused this week of “working a fraud on the court and the jury” by doctoring a crucial document it […]

Allen Stanford, American Drug Lord

By dhopsicker Missing from coverage of the conviction two weeks ago of Texas “financier” Allen Stanford for running a $7 billion Ponzi scheme was any mention of Stanford’s long-time role as an authentic-if no longer certified-American Drug Lord. “Sir” Allen (the title was bought) is an excellent example of a curiously under-publicized species: the American […]

La. Stanford victims’ negligence claims moving forward

By Leslie Turk On Monday the 5th U.S. Circuit Court of Appeals in New Orleans reversed a 2011 lower-court ruling, clearing the way for state court class actions against financial advisers, lawyers and other third parties accused of aiding convicted financial Allen Stanford’s $7 billion Ponzi scheme. U.S. District Judge David Godbey in Dallas had […]

Vitter Testifies at House Hearing, Continues to call for SIPC to Compensate Stanford Victims

For Immediate Release (Washington, D.C.) – U.S. Sen. David Vitter today was invited to testify at the U.S. House Committee on Financial Services, Subcommittee on Capital Markets about some of the ongoing problems at the Securities Investor Protection Corporation (SIPC). Vitter testified about SIPC’s refusal thus far to compensate the victims of the Allen Stanford […]

Stanford verdict could boost civil claims

By Leigh Jones The conviction of Allen Stanford on Tuesday for orchestrating a $7 billion Ponzi scheme could be bad news for two prominent law firms and an attorney facing civil lawsuits arising out of the Texas financier’s crimes. Attorney Thomas Sjoblom and New York-based law firms Chadbourne & Parke and Proskauer Rose are defendants in several […]

Jury convicts R. Allen Stanford in investor fraud

By Loren Steffy A federal court jury on Tuesday convicted Texan R. Allen Stanford of all but one count of an indictment alleging he ran a $7 billion fraud through an offshore bank. Stanford, a Mexia native, was convicted of 13 counts of conspiracy, fraud, obstruction and money laundering. The counts of which he was found […]