Monthly Archives: April 2013

Allen Stanford Told to Disgorge $6.7 Billion in SEC Case

By Andrew Harris R. Allen Stanford, the Texas financier convicted last year of leading an investment fraud scheme, was ordered to disgorge more than $6.7 billion by the judge in a U.S. Securities and Exchange Commission lawsuit. U.S. District Judge David Godbey in Dallas issued the order yesterday against Stanford, his Stanford Group Co. and […]

SEC Order Against Stanford

By U.S. District Judge David C. Godbey Securities and Exchange Commission, Plaintiff, vs. Stanford International Bank LTD., et al. Defendants. Civil Action No. 3:09-CV-0298-N This Order addresses Plaintiff Security and Exchange Commission’s (“SEC”) motion for partial summary judgment [1779]. The Court grants the motion. The Court also denies Defendant R. Allen Stanford’s motion for extension […]

Louisiana officials want release of SEC report in Stanford case

By BILL LODGE A Louisiana senator told officials of the Securities and Exchange Commission Friday that he wants immediate release of a year-old report by the commission’s inspector general on efforts to recover money for victims of a multibillion-dollar fraud. U.S. Sen. David Vitter, R-La., described as incompetent efforts by a court-appointed receiver to find […]

SEC Can’t Force Help For Stanford Victims, DC Circ. Told

By Counsel for Appellee SIPC The Securities Investor Protection Corp. asked the D.C. Circuit on Monday to affirm a landmark district court ruling declaring it doesn’t owe compensation to victims of Robert Allen Stanford’s $7 billion Ponzi scheme, suggesting the U.S. Securities and Exchange Commission succumbed to political pressure in bringing the suit. The SIPC […]

SIPC: $5.44 BILLION NOW DISTRIBUTED TO MADOFF VICTIMS

By Ailis Aaron Wolf Madoff Trustee’s Third Distribution Sends Approximately $506.2 Million to Customers With Allowed Claims. With the distribution of approximately $506.2 million to victims in the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), a total of $5.44 billion will now have been distributed to BLMIS customers with allowed claims. The Securities […]