Category Class Action & Lawsuits

$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 […]

Canadian lawyer sues U.S. government over Allen Stanford ponzi scheme

By Drew Hasselback Investors lost billions in the ponzi scheme orchestrated by Texas tycoon Allen Stanford, and now a Canadian lawyer believes he has an innovative legal strategy to recover funds for victims of the fraud who reside outside the United States. Todd Weiler, who specializes in international law, believes that “unconscionable negligence and/or manifest […]

Stanford investors’ lawsuit heads to federal court

By Bill Lodge Eighty-nine investors defrauded by now-imprisoned Houston financier Robert Allen Stanford want $115 million from seven insurance companies in addition to claims that could total as much as $1 billion against the Louisiana Office of Financial Institutions and SEI Investments Co. But six of the insurers responded Monday by transferring the investors’ 4-year-old […]

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 […]

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 […]

Judge approves Stanford class action lawsuit

By BILL LODGE A civil suit by 86 defrauded investors was certified by a Baton Rouge judge Wednesday as a class action against Louisiana’s regulator of financial institutions and a Pennsylvania company that compiled customer financial statements on behalf of convicted swindler Robert Allen Stanford. The ruling by state District Judge R. Michael Caldwell could […]

Allen Stanford receiver sues Greenberg Traurig, Hunton & Williams and YOLANDA SUAREZ

By Terry Baynes A representative for the victims of Allen Stanford’s estimated $7 billion Ponzi scheme is suing two law firms he says helped the now-convicted swindler perpetrate his fraud. The court-appointed receiver, the Official Stanford Investors Committee and individual investors sued Greenberg Traurig and Hunton & Williams on Thursday, claiming that lawyer Carlos Loumiet, […]

Complaint against PROSKAUER ROSE, LLP, CHADBOURNE & PARKE, LLP, and THOMAS V. SJOBLOM

By ATTORNEYS FOR THE OSIC Ralph S. Janvey, in his capacity as the Court-Appointed Receiver for the Stanford Receivership Estate, and the Official Stanford Investors Committee file this First Amended Complaint (the “Complaint”) against Defendants PROSKAUER ROSE, LLP, CHADBOURNE & PARKE, LLP, and THOMAS V. SJOBLOM (collectively, the “Defendants”). Defendant Proskauer Rose, LLP (“Proskauer”) is […]

Government accused of negligence in suit

By Edward J. Gonzales III Seven Baton Rouge residents and firms are suing the federal government for negligence and misconduct they say caused their loss of approximately $3.5 million to the massive Ponzi scheme operated by Houston entrepreneur Robert Allen Stanford. “You can’t sue the government simply for making mistakes,” attorney Edward J. Gonzales III […]

Investors Sue Auditor BDO for Stanford Ponzi Fraud

By DAVID LEE Investors defrauded by Allen Stanford’s $7 billion Ponzi scheme say in court that the fund’s auditor knowingly participated in the fraud. The Official Stanford Investors Committee filed the federal complaint against BDO USA, and related entities BDO International, BDO Global Coordination and Brussels Worldwide Services. The complaint abbreviates Stanford Group Co. as […]