Category Godbey

Stanford Judge Approves Interim Distribution to Victims

By Tom Korosec & Andrew Harris A plan by a court-appointed receiver to distribute assets recovered from R. Allen Stanford’s Ponzi scheme to investors was approved by a federal judge in Dallas.U.S. District Judge David C. Godbey accepted the plan by Ralph Janvey, the receiver appointed in 2009 to marshal and liquidate Stanford’s personal and […]

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 […]

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 […]

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 […]

Order re. Chapter 15 / COMI

By U.S. District Judge David C. Godbey The Court grants the Joint Liquidators’ motion for substitution as Plaintiff nunc pro tunc to June 8, 2010 and grants in part and denies in part their request that the Court take judicial notice. The Court overrules the parties’ objections to each others’ evidence. Finally, because the Stanford […]

Stanford Officer to Plead Guilty

By VANESSA O’CONNELL Stanford Financial Group’s top investment executive, Laura Pendergest-Holt, is expected to plead guilty to obstruction of justice Thursday for her alleged role in a $7 billion Ponzi scheme that was among the largest frauds in U.S. history, a person familiar with the case said. A spokeswoman for the Justice Department declined comment. […]