Tag Archives: Bank

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 […]

HSBC will pay $1.9 billion for money laundering

By Kevin McCoy British banking giant HSBC agreed to pay a record $1.92 billion settlement Tuesday after a broad investigation by U.S. federal and state authorities found the bank violated federal laws by laundering money from Mexican drug trafficking and processing banned transactions on behalf of Iran, Libya, Sudan and Burma. The settlement, a combination […]

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, […]

SEC MOTION TO INTERVENE AND TO SUSPEND THE MEMORANDUM OPINION AND ORDER OF JULY 3, 2012

By Matthew T. Martens Applicant U.S. Securities and Exchange Commission (“SEC” or “Commission”) respectfully submits this memorandum of law in response to Robert Cheatham’s Motion To Intervene and To Suspend the Memorandum Opinion and Order of July 3, 2012 (“Motion To Intervene”). Mr. Cheatham contends that he may intervene as of right in this proceeding […]

HSBC lapses left US economy exposed to exploitation by terrorists – Senate report

By Richard Blackden HSBC left America’s financial system exposed to exploitation by drug cartels and terrorist organisations due to its failure to comply with anti-money laundering laws, according to a damning US Senate report. These are two of the findings in a 340-page study from the US Senate that accuses Britain’s biggest bank of a […]

Stanford sentenced to 110 years over Ponzi scheme

By The Wall Street Journal R. Allen Stanford, the once-highflying financier convicted of masterminding a $7 billion Ponzi scheme, was sentenced Thursday to 110 years in federal prison. The punishment amounts to an effective life sentence for Stanford, who is 62 years old and used to live extravagantly aboard yachts, jets and homes around the […]

Allen Stanford, American Drug Lord

By dhopsicker Missing from coverage of the conviction two weeks ago of Texas “financier” Allen Stanford for running a $7 billion Ponzi scheme was any mention of Stanford’s long-time role as an authentic-if no longer certified-American Drug Lord. “Sir” Allen (the title was bought) is an excellent example of a curiously under-publicized species: the American […]