Monthly Archives: January 2013

The District Court Rules in Favor of the Receiver in His Claim to Recover Net Winnings Paid to Stanford “Net Winner” Investors

By U.S. Receiver (Ralph Janvey) On January 23, 2013, the District Court entered a summary judgment order in favor of the Receiver finding that the Receiver is entitled to recover from Stanford investors any funds they were paid in excess of the principal they deposited in the Stanford fraud scheme. The Court ruled that the […]

Ex-Stanford executive gets 5 years in $7B swindle

By JUAN A. LOZANO The star prosecution witness in the trial of convicted Texas financier R. Allen Stanford was sentenced Tuesday to five years in prison for helping to bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. history. James M. Davis had faced up to 30 […]

THE SECURITIES AND EXCHANGE COMMISSION APPEAL AGAINST SIPC

By SEC The Commission has shown that SIPC should be required to file an application for a protective decree as to Stanford Group Company in the District Court for the Northern District of Texas. In denying the Commission’s application, the district court made two reversible errors: First, it incorrectly applied a heightened preponderance standard of […]

STANFORD PONZI SCHEME VICTIMS TO RECOVER ONE PERCENT OF LOSSES

By U.S. Receiver (Ralph Janvey) The Receiver requests that the Court order a first interim distribution of funds from the Receivership Estate for the benefit of defrauded investors in certificates of deposit (“CDs”) issued by Stanford International Bank, Ltd. (“SIB”). These investors were the primary source of both the funds that fueled the Stanford Ponzi […]