Tag Archives: Forum

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 […]

KLS Stanford Update – SEC Litigation

By KACHROO LEGAL SERVICES, P.C. In our last update, we notified you that the magistrate judge in our SEC class action denied the Government’s request to stay all discovery. We are summarizing here the outcome of the discovery hearing which was held in Miami on February 14, 2013. One of the key hurdles to overcome […]

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 […]

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 […]

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 […]

The District Court Rules in Favor of the Receiver in His Claim to Recover Net Winnings Paid to Stanford “Net Winner” Investors

By U.S. Receiver (Ralph Janvey) On January 23, 2013, the District Court entered a summary judgment order in favor of the Receiver finding that the Receiver is entitled to recover from Stanford investors any funds they were paid in excess of the principal they deposited in the Stanford fraud scheme. The Court ruled that the […]

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 […]