Monthly Archives: June 2013

Investors plan appeal of Stanford lawsuit dismissal

By JOE GYAN JR. A federal appeals court will be asked to reverse a Baton Rouge federal judge’s dismissal of a lawsuit that claims the Securities and Exchange Commission and a former official knew of Robert Allen Stanford’s $7 billion fraud scheme but failed to investigate and stop it, an attorney for some victims said Friday. The […]

SEC Escapes Stanford Victims’ Suit Over $7B Ponzi Scheme

By Law360, New York A Louisiana judge Friday threw out a putative class action alleging the U.S. Securities and Exchange Commission facilitated Robert Allen Stanford’s $7 billion Ponzi scheme, finding the agency was shielded by a law barring suits over federal officials’ discretionary choices. U.S. District Shelly D. Dick said the discretionary function exception of […]

$83.5M Suit Says Willis Group Aided Stanford Fraud

By Law360 A group of holders of Stanford Financial Group CD accounts claims that Willis Group Holdings Public Limited Co. helped perpetuate Robert Allen Stanford’s $7 billion Ponzi scheme, according to an $83.5 million class action removed from Florida state court Monday. The plaintiffs, 64 citizens of El Salvador, Nicaragua, Panama, the United States and […]