Monthly Archives: February 2013

KRCL Stanford Ponzi Scheme Litigation Update

By David M. Clem It has been more than four years since the District Court for the Northern District of Texas appointed Ralph Janvey as Receiver for the Stanford Entities-shutting down what the SEC alleged to be a $7 billion Ponzi scheme. In that time, R. Allen Stanford and some of his associates have been […]

Cassidy, Deutch Introduce Improving SIPC Act of 2013

By Dr. Bill Cassidy WASHINGTON, D.C. – This week, Congressman Bill Cassidy, M.D. (R-LA) and Congressman Ted Deutch (D-FL) re-introduced the Improving Security for Investors and Providing Closure Act, or Improving SIPC Act of 2013. The legislation would provide victims of Ponzi schemes a quicker path to financial restitution, including those harmed by R. Allen […]

Stanford Investors Sue Antigua, Caribbean Central Bank

By Laurel Brubaker Calkins R. Allen Stanford’s receiver and investors’ committee sued Antigua, the Eastern Caribbean Central Bank and 23 former Stanford Financial Group Co. executives over allegations they aided the financier’s $7 billion fraud. The Official Stanford Investors Committee seeks repayment of at least $90 million in documented loans Stanford made to the dual-island […]

Ex-Stanford Executives Get 20-Year Sentences

By DEBBIE CAI Two former Stanford Financial Group executives were each sentenced to 20 years in prison for aiding convicted financier Robert Allen Stanford in perpetuating a massive Ponzi scheme, the Department of Justice said. Gilbert T. Lopez Jr., former chief accounting officer of Stanford Financial Group Co., and Mark J. Kuhrt, former global controller […]

RECEIVER’S FIFTH INTERIM REPORT REGARDING STATUS OF RECEIVERSHIP, ASSET COLLECTION, AND ONGOING ACTIVITIES

By Kevin M. Sadler The Receiver hereby submits for the Court’s consideration the following information regarding the status of the Receivership, asset collection efforts, and other ongoing activities. Unless otherwise stated herein, the information in this report is current as of January 31, 2013. The Receiver will supplement this report as circumstances develop or if […]