Tag Archives: offshore

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 […]

Cassidy, Deutch Introduce Improving SIPC Act of 2013

By Dr. Bill Cassidy WASHINGTON, D.C. – This week, Congressman Bill Cassidy, M.D. (R-LA) and Congressman Ted Deutch (D-FL) re-introduced the Improving Security for Investors and Providing Closure Act, or Improving SIPC Act of 2013. The legislation would provide victims of Ponzi schemes a quicker path to financial restitution, including those harmed by R. Allen […]

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 […]


By SEC The Commission has shown that SIPC should be required to file an application for a protective decree as to Stanford Group Company in the District Court for the Northern District of Texas. In denying the Commission’s application, the district court made two reversible errors: First, it incorrectly applied a heightened preponderance standard of […]


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 […]

Motion To Intervene and To Suspend the Memorandum Opinion and Order of July, 3, 2012

By Richard R. Cheatham Pursuant to Fed. R. Civ. P. 24 Richard R. Cheatham moves to intervene in this action in order to protect his interest in the subject of the action and pursuant to Fed. R. Civ. P. 59 to suspend the Court’s Memorandum Opinion and Order of July, 3, 2012 pending reconsideration in […]