US firm settles fraud-tied claims for $63m

One Proskauer Rose has settled with investors, an investor committee, and the court-appointed receiver in the Stanford Financial Ponzi scheme for US$63m. The firm, which was fighting the claims for nine years, did not admit to any wrongdoing or liability.

A former Proskauer Rose partner, Thomas Sjoblom, represented companies of R. Allen Stanford. He was accused of helping delay a US Securities and Exchange Commission investigation into the financier, according to the American Bar Journal.

Legacy Chadbourne & Parke, where Sjoblom had also worked, settled claims connected to the Ponzi scheme in 2016 for US$35m.

To view the full article click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum


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