KLS complaint against the U.S. Government/SEC
December 21, 2011
By Dr. Gaytri D. Kachroo
Ft. Lauderdale, FLA - A class action lawsuit was filed against the United States on December 13, 2011, for the billions in losses suffered by investors in the Allen Stanford international Ponzi scheme... Read more!
Grant Thornton Letter to Senators Vitter, Shelby, Cochran, and Wicker
December 15, 2011
By Marcus A. Wide
I am writing in response to your recent introduction of Senate Resolution 346 which takes exception to certain alleged actions by the Government of Antigua and Barbuda (GoAB) related to the fraud perpetrated by Robert Allen Stanford... Read more!
Madoff's case bigger, but Stanford's messier
December 13, 2011
By Loren Steffy
From the beginning, the collapse of R. Allen Stanford's financial empire was unlike other financial scandals, and the aftermath of his alleged $7 billion fraud has been messier than normal for investors in such cases... Read more!
SEC sues insurance fund in Stanford case
December 12, 2011
By Loren Steffy
The Securities and Exchange Commission for the first time sued the agency that insures U.S. brokerage accounts to force it to pay investors in R. Allen Stanford's alleged $7 billion Ponzi scheme... Read more!
Stanford's donations still stain lawmakers' hands
December 8, 2011
By Loren Steffy
In the battle over insurance coverage for investors who lost money in the collapse of Stanford Financial's U.S. brokerage, it's difficult to know who's on investors' side... Read more!
SIPC Rebuffs Stanford Investors Demands to Cover Losses
December 7, 2011
By Scott Cohn
The agency that insures U.S. brokerage accounts has again rebuffed demands it provide coverage to investors in Allen Stanford's alleged $7 billion Ponzi scheme, making it increasingly likely the issue is headed to court... Read more!
US-Committee in opposition to Grant Thornton
December 5, 2011
By the US-Committee
The Official Stanford Investors Committee (the "Investors Committee") submits this brief in opposition to the Petition for Recognition of Foreign Main Proceeding Pursuant to Chapter 15 of Bankruptcy Code (the "Petition")... Read more!
Is SIPC afraid of lawsuits in the Stanford case?
December 2, 2011
By Loren Steffy
SIPC Chairman Orlan Johnson "expressed concern that the organization could be sued in the Stanford matter by financial institutions who contribute to the fund, further delaying the compensation."... Read more!
Cassidy Leads Effort to Send Letter to SIPC Chairman
November 30, 2011
By centralSpeaks
Congressman Bill Cassidy, M.D., along with 26 Members of Congress, signed a bi-partisan letter to Chairman Orlan M. Johnson of the Securities Investor Protection Corporation (SIPC)... Read more!
International Victims Charge America to play Fair
October 22, 2011
By Kate Freeman
In 2009 on the heels of the Madoff fraud, the Ponzi scheme operated by R. Allen Stanford was uncovered which has received widespread media coverage in the United States. What has not been widely reported is that only 4,000 of the 21,000 victims worldwide are US citizens. The remaining 17,000, the vast majority, are innocent victims from around the globe, who all have one common cause; to recover their life savings, stolen by the US citizen R. Allen Stanford... Read more!
Investors in Allen Stanford's Ponzi scheme are now at the mercy of a floundering receivership
October 8, 2011
By Julie Triedman
Janvey is making a mess of an already complicated proceeding. Two and a half years into his term as receiver, Janvey has spent a lot and produced little. Some investors are complaining that Janvey's strategy is flawed, and accuse him of mismanaging funds... Read more!
Letter to the Editor, Caribbean360
August 22, 2011
By Eric Cohen
A story published in the August 18, 2011, edition of Caribbean360, "Investors question Antigua Stanford liquidators" makes several erroneous and unfortunate statements that only mislead and confuse victims of SIB's failure... Read more!
S.E.C. Files Were Illegally Destroyed, Lawyer Says
August 17, 2011
By EDWARD WYATT
An enforcement lawyer at the Securities and Exchange Commission says that the agency illegally destroyed files and documents related to thousands of early-stage investigations over the last 20 years, according to information released Wednesday by Congressional investigators... Read more!
Consolidated Reply to Responses by SEC and Co.
August 17, 2011
No one has disputed in their oppositions that the Investor Committee lacks a majority of independent and disinterested investors, which is necessary to adequately represent the interests of investors. To the contrary, the Investor Committee admits that three of its non-investor attorney members have substantial contingency fee agreements with the Receiver, and that the non-investor Examiner is paid out of the receivership estate - resulting in a situation where four of the seven members are interested... Read more!
First Report of the Joint Liquidators Grant Thornton
August 17, 2011
The mandate of the Liquidators is to gather in and maximize the value of the assets of SIB, to monetise and to distribute such assets under a statutory framework. This requires the Liquidators to conduct a creditor/victim claims adjudication and distribution process... Read more!
Chasing Madoff
August 03, 2011
By Kachroo Legal Services, P.C.
"KLS is proud to present the Fox Hounds' documentary feature film to be released in the US in late August, 2011. Please check it out at a theatre near you. It is a substantive and educational review of Wall Street, underscoring the profound need for financial reform and ethics in global finance. Dr. Gaytri Kachroo, a member of the Markopolos team, is a subject and co-producer of the film"... Read more!
Response and Objection to the KLS Motion to Intervene
July 30, 2011
The Motion to Intervene filed by the KLS Stanford Victims should be denied. While styled as a Motion to Intervene (and for the appointement of four additional Stanford investors to the Committee), the Motion is little more than an attempt by one lawyer - Gaytri Kachroo ("Kachroo") - to belatedly insert herself into these proceedings, principally in order to influence defrauded Stanford investors to hire her firm to sue the United States government, but also in an effort to circumvent prior orders of this Court which established and govern the conduct of the Committee... Read more!
SEC Inspector General to Investigate Stanford Texas Receivership
July 21, 2011
by KACHROO LEGAL SERVICES, P.C.
We have learned today that SEC Inspector General David Kotz will begin an investigation of the Texas Receivership of Allen Stanford, pursuant to a request by Kachroo Legal Services, P.C... Read more!
Stanford Victims Refuse to be defrauded by Texas Receiver
July 8, 2011
by Kate Freeman
Since the SEC shut down Allen Stanford's investing and banking operations over two years ago, the receivership to help the victims recover their losses has been consuming all the assets, reveals a motion filed today by Kachroo Legal Services, P.C. and its principal, Gaytri Kachroo... Read more!
Stanford Victims Complain About Receiver's Spending
July 8, 2011
by Caribarena News
A motion has been filed in the US District court to protect Stanford Victims from what they view as the overspending by the court-appointed receiver and the negligence of the Stanford Investor Committee... Read more!
Compensating Stanford's Investors
June 20, 2011
By PETER J. HENNING
The Securities and Exchange Commission froze the assets of R. Allen Stanford's financial empire almost two years ago. But authorities are still figuring out whether investors can get compensated for some of their losses... Read more!
Securities: SEC concludes Stanford is guilty
June 20, 2011
Securities News Network
Sir Allen Stanford has not been convicted of any offence. Nor have any regulatory proceedings been concluded against him. Yet the USA's Securities and Exchange Commission has decided that he ran a Ponzi scheme and that "investors" are entitled to certain statutory protections... Read more!
SIPC ISSUES WARNING ON "PHISHING" SCAM TARGETING INVESTMENT SCAM VICTIMS
June 17, 2011
Victims and Potential Investors in Scams Targeted by Phony 'SIPC Agents'
The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect
the customers of insolvent brokerage firms, issued a warning today to consumers who are contacted by individuals falsely claiming
to represent SIPC when asking for personal information or payments in order to return funds lost in investment scams...
Read more!
SEC Concludes That Certain Stanford Ponzi Scheme Investors Are Entitled to Protections of SIPA
June 15, 2011
FOR IMMEDIATE RELEASE 2011-129
The Securities and Exchange Commission today concluded that certain individuals who invested money through the Stanford Group Company a U.S. broker-dealer owned and used by Allen Stanford to perpetrate a massive Ponzi scheme are entitled to the protections of the Securities Investor Protection Act of 1970 (SIPA)... Read more!
Block SEC Nominees Until Stanford Victims Get Answers
June 14, 2011
U.S. Congressman Charles W. Boustany, Jr., MD (R-Southwest Louisiana), a leading voice in Congress for the victims of the Stanford Ponzi schemes, today praised his Senate colleague for pledging to stop the nominations to the Securities and Exchange Commission (SEC). U.S. Senator David Vitter announced he will block the nominations of Daniel M. Gallagher and Luis Aguilar to the SEC until the commission assists victims of the Stanford schemes with Securities Investor Protection Corporation coverage... Read more!
HSBC Agrees to Pay $62.5 Million to Settle U.S. Class-Action Madoff Suit
June 7, 2011
By Erik Larson and Linda Sandler
The following article raises the question are HSBC not also liable for acting as custodian for Allen Stanford?... Read more!
How the SEC really treats "Whistleblowers" - Second Part
June 6, 2011
By WikiLeaks-Stanford
I (Charles W. Rawl) feel that I am left with no ethical or practical alternative but to resign given the serious nature of these issues and their cumulative adverse effect on our clients... Read more!
Allen Stanford Investors Sue His Accounting Firm
May 26, 2011
By Scott Cohn. Senior Correspondent, CNBC
$10 billion class action suit
Nearly two years after Texas financier Allen Stanford was indicted in an alleged massive Ponzi scheme, investors have
just filed a $10 billion proposed class action suit against his auditorthe giant accounting firm BDO...
Read more!
SEC could owe millions over lease deal
May 24, 2011
By Sarah N. Lynch
Rep. Neugebauer says SEC should be ashamed
WASHINGTON, May 24 (Reuters) - The U.S. Securities and Exchange Commission faces a $94 million claim after it backed
out of a bungled deal to lease office space in Washington, D.C...
Read more!
SEC says decision near on Stanford coverage
May 14, 2011
By Stewart M. Powell - Washington Bureau
Investors want insurance on their losses.
Possible federal brokerage insurance in the Stanford case.
WASHINGTON Investors in R. Allen Stanford's alleged $7 billion Ponzi scheme
should know "within the next few weeks" whether they will be able to collect federal
brokerage insurance to cover some of their losses, senior officials with the Securities and
Exchange Commission told Congress on Friday...
Read more!
SEC employee testifies she paid a price for protest
May 14, 2011
By David S. Hilzenrath
An SEC employee who fought for years to get the agency to stop an alleged massive Ponzi scheme told a House panel that she "paid a heavy price" for protesting her boss's weak approach to exposing such scams.... Read more!
Former S.E.C. Official Said to Be Subject of Criminal Inquiry
May 14, 2011
By EDWARD WYATT
WASHINGTON -- A former Securities and Exchange Commission enforcement official who has been accused of repeatedly blocking efforts to investigate R. Allen Stanford, the Houston financier charged with running a $7 billion Ponzi scheme, is the subject of a federal criminal inquiry for having done legal work for Mr. Stanford after leaving the S.E.C., government officials said Friday... Read more!
Ketchum on monitoring Stanford: Finra could have done better
May 13, 2011
By Dan Jamieson
Says regulator's Dallas office backed off investigating accused Ponzi
artist's company due to jurisdictional concerns
Financial Industry Regulatory Authority Inc. chief executive Richard Ketchum issued a mea culpa today for
Finra's failure to uncover R. Allen Stanford's alleged $8 billion Ponzi scheme...
Read more!
FBI probing ex-SEC official on Stanford matter
May 13, 2011
By Sarah N. Lynch
WASHINGTON, (Reuters) - Federal criminal authorities are investigating whether a former U.S. securities regulator inappropriately represented alleged fraudster Allen Stanford after he left the agency in 2005... Read more!
SEC Officials: Units Collaborating Better After Stanford Fraud
May 13, 2011
By Jessica Holzer
WASHINGTON -(Dow Jones)- The Securities and Exchange Commission's investigation and examination units are now coordinating more closely on cases after the regulator ignored claims that now-jailed money manager R. Allen Stanford was running a $7 billion Ponzi scheme, top SEC officials will testify in a hearing Friday... Read more!
SEC to Release Finding on Stanford Clients' SIPC Eligibility
May 13, 2011
By Joshua Gallu
The U.S. Securities and Exchange Commission, faulted for missing R. Allen Stanford's alleged $7 billion fraud, said it will decide "in the near future" whether victims should receive federal insurance payments... Read more!
SEC Missing Stanford Fraud Not Excused by Law
May 10, 2011
By Laurel Brubaker Calkins and Andrew Harris
The U.S. Securities and Exchange Commission's delay in cracking down on R. Allen Stanford's alleged Ponzi scheme isn't excused by a law that protects regulators' discretionary decisions, Stanford's investors claim... Read more!
New Allen Stanford Indictment Unlikely to End Delays
May 5, 2011
By Scott Cohn, Senior Correspondent CNBC
A federal grand jury in Houston has returned a new, 14-count indictment against alleged fraudster Allen Stanford, who was already accused in 2009 of running a $7 billion Ponzi scheme. But the new charges are unlikely to move the case closer to a trial... Read more!
Stanford Victims might get SIPC
April 27, 2011
The Securities Investor Protection Corp. (SIPC) - touted as a backstop against brokerage losses - can not longer refuse to cover losses by investors in financier Allen Stanford's alleged $7 billion fraud.... Read more!
Stanford Investors Sue SEC for Losses in Alleged Swindle
March 25, 2011
The U.S. Securities and Exchange Commission was sued by eight of indicted financier R. Allen Stanford's investors, who claim regulators' negligence and misconduct caused their losses... Read more!
How the SEC really treats "Whistleblowers"
March 24, 2011
By Charles W. Rawl
Beginning with our earliest meetings with the SEC, we expressed our concern about Stanford's malicious attacks against us. At every meeting, we were assured by the SEC that it would do everything within its power to protect us as we were important witnesses who were instrumental in developing their case against Stanford... Read more!
Letter to the Chronicle's Editor Regarding the SEC's Failure to Protect the Stanford Group's Victims
March 15, 2011
Agencies failed
It has been more than two years since 1,290 Texans lost their life savings in the R. Allen Stanford debacle. Many of the victims were teachers, nurses and
firefighters, and these losses reflect most, if not all, of the retirement funds they accumulated over many years of hard work. These Texans relied on the
Securities Exchange Commission (SEC) to uphold its federal mandate to protect investors, and despite numerous warnings about Stanford Financial over several
years, the SEC failed to act on behalf of investors... Read more!
Dismay as official Stanford Investors Committee file lawsuit against St Jude's children's cancer hospital charity
February 16, 2011
Investors trying to retrieve billions they lost in Stanford Financial Group's Ponzi scheme have sued St. Jude Children's Research Hospital, its fundraising arm American Lebanese Syrian Associated Charities Inc. and Le Bonheur Children's Medical Center Foundation for more than $7.37 million Stanford had donated... Read more!
Class action vs. PERSHING LLC, and LOCKWOOD ADVISORS, INC.
February 16, 2011
The amount in controversy exceeds $5,000,000.00
Calling it the best chance for some investors to recover some of the money they lost in R. Allen Stanford's certificates of deposit, attorneys have
sued a clearing broker-dealer for the disgraced financier... Read more!
Cricket mogul Stanford sent to US prison hospital
February 16, 2011
By AFP
Financier and cricket mogul Allen Stanford was sent to a US prison hospital for drug addiction treatment so he can be fit to stand trial on charges of running a $7 billion fraud, officials said Tuesday... Read more!
Forensic accountant gives Stanford investors a little hope
February 15, 2011
Nonmember affiliate company were also granted with SIPC cover
For two years, Stanford Financial Group's victims have struggled with the grim reality of their situation. Not only is their money gone,
but every safety net has failed them. Now, they're hoping a new finding by a forensic accountant will give them a better chance at
getting some of their money back...
Read more!
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