Investors plan appeal of Stanford lawsuit dismissal

June 30, 2013
By JOE GYAN JR.

A federal appeals court will be asked to reverse a Baton Rouge federal judge's dismissal of a lawsuit that claims the Securities and Exchange Commission and a former official knew of Robert Allen Stanford's $7 billion fraud scheme but failed to investigate and stop it, an attorney for some victims said Friday... Read more!

SEC Escapes Stanford Victims' Suit Over $7B Ponzi Scheme

June 21, 2013
By Law360

A Louisiana judge Friday threw out a putative class action alleging the U.S. Securities and Exchange Commission facilitated Robert Allen Stanford's $7 billion Ponzi scheme, finding the agency was shielded by a law barring suits over federal officials' discretionary choices... Read more!

$83.5M Suit Says Willis Group Aided Stanford Fraud

June 4, 2013
By Law360

A group of holders of Stanford Financial Group CD accounts claims that Willis Group Holdings Public Limited Co. helped perpetuate Robert Allen Stanford's $7 billion Ponzi scheme, according to an $83.5 million class action removed from Florida state court Monday... Read more!

Stanford Judge Approves Interim Distribution to Victims

May 31, 2013
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... Read more!

INITIAL REPLY BRIEF OF THE SECURITIES AND EXCHANGE COMMISSION, APPELLANT

May 24, 2013
By Michael L. Post

The Securities and Exchange Commission established that the district court erred both in incorrectly applying a preponderance standard of proof in this preliminary, summary proceeding and in applying an unduly narrow construction of the statutory term "customer" to preclude the possibility of coverage under the Securities Investor Protection Act of 1970 for investors in the Stanford Ponzi scheme... Read more!

Political Contributions

May 16, 2013
By U.S. Receiver Ralph Janvey

The Receiver had received $1.8M in returned contributions made by Stanford International Bank, Ltd., Stanford Group Company, Stanford Capital Management, LLC, R. Allen Stanford, James M. Davis, Laura Pendergest-Holt and certain entities they own or control... Read more!

Canadian lawyer sues U.S. government over Allen Stanford ponzi scheme

May 7, 2013
By Drew Hasselback

Investors lost billions in the ponzi scheme orchestrated by Texas tycoon Allen Stanford, and now a Canadian lawyer believes he has an innovative legal strategy to recover funds for victims of the fraud who reside outside the United States... Read more!

Allen Stanford Told to Disgorge $6.7 Billion in SEC Case

April 26, 2013
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... Read more!

SEC Order Against Stanford

April 25, 2013
By U.S. District Judge David C. Godbey

The Court finds Stanford, Davis, SGC, and SIB jointly and severally liable to disgorge the $5.9 billion fraudulently acquired by Stanford's scheme... Read more!

Louisiana officials want release of SEC report in Stanford case

April 22, 2013
By BILL LODGE

"Given the demonstrated incompetence of the court-appointed receiver, it makes you wonder how bad this (inspector general's) report gets. The Stanford victims deserve to see." U.S. Sen. David Vitter, R-La... Read more!

SEC Can't Force Help For Stanford Victims, DC Circ. Told

April 12, 2013
By Counsel for Appellee SIPC

The Securities Investor Protection Corp. asked the D.C. Circuit on Monday to affirm a landmark district court ruling declaring it doesn't owe compensation to victims of Robert Allen Stanford's $7 billion Ponzi scheme, suggesting the U.S. Securities and Exchange Commission succumbed to political pressure in bringing the suit... Read more!

SIPC: $5.44 BILLION NOW DISTRIBUTED TO MADOFF VICTIMS

April 1, 2013
By Ailis Aaron Wolf

With the distribution of approximately $506.2 million to victims in the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), a total of $5.44 billion will now have been distributed to BLMIS customers... Read more!

KLS Stanford Update - SEC Litigation

March 14, 2013
By KACHROO LEGAL SERVICES, P.C.

The magistrate made clear that this hurdle has been overcome and the court had already ruled on the sovereign immunity issue. The magistrate also held that it is not obvious that [the Government's second motion to dismiss] will succeed... Read more!

Stanford U.S. Receiver Has Deal With Antigua Counterpart

March 13, 2013
FOR IMMEDIATE RELEASE

For dropping their dispute with Janvey and the U.S. Justice Department, the Antiguan liquidators will receive fees of $36 million from Stanford's frozen funds in the U.K... Read more!

OPEN LETTER TO JANVEY AND JLs

March 12, 2013
FOR IMMEDIATE RELEASE

It is very important that you participate in this action. You should decide how your money is spent, and whether all available funds should be distributed to you, or should be fund ongoing efforts by the receivership and/or the joint liquidators. Don't let few persons decide for you! Please read carefully the letter, proposed by one victim, and provide your acceptance in case you agree. We need as much victims as possible supporting this letter in order to make enough pressure to achieve a prompt distribution... Read more!

Stanford investors' lawsuit heads to federal court

March 12, 2013
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... Read more!

Cassidy, Deutch Introduce Improving SIPC Act of 2013

February 28, 2013
By Dr. Bill Cassidy

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... Read more!

KRCL Stanford Ponzi Scheme Litigation Update

February 28, 2013
By David M. Clem

This alert will report on some of the new complaints filed by the Receiver and the Official Stanford Investors Committee in February... Read more!

Stanford Investors Sue Antigua, Caribbean Central Bank

February 18, 2013
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... Read more!

Ex-Stanford Executives Get 20-Year Sentences

February 14, 2013
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... Read more!

RECEIVER'S FIFTH INTERIM REPORT REGARDING STATUS OF RECEIVERSHIP, ASSET COLLECTION, AND ONGOING ACTIVITIES

February 7, 2013
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... Read more!

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

January 23, 2013
By U.S. Receiver (Ralph Janvey)

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... Read more!

Ex-Stanford executive gets 5 years in $7B swindle

January 22, 2013
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... Read more!

THE SECURITIES AND EXCHANGE COMMISSION APPEAL AGAINST SIPC

January 11, 2013
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... Read more!

STANFORD PONZI SCHEME VICTIMS TO RECOVER ONE PERCENT OF LOSSES

January 11, 2013
By U.S. Receiver (Ralph Janvey)

The Receiver requests that the Court order a first interim distribution of funds from the Receivership Estate for the benefit of defrauded investors in certificates of deposit (CDs) issued by Stanford International Bank, Ltd. (SIB)... Read more!