Stanford Receiver Can’t Renew Fight Over $88M Clawback

A Texas federal judge on Thursday denied a request by the court-appointed receiver of Stanford International Bank to overturn a jury decision keeping $88 million in cash in the hands of a cable and truck-racing magnate, who received it shortly before Stanford’s Ponzi scheme-related collapse.

Judge David C. Godbey said he had already ruled that a reasonable jury could have found Colorado billionaire Gary Magness accepted money from Stanford in good faith, and rejected receiver Ralph Janvey’s arguments that he committed multiple legal errors over the…

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For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



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Victims of Allen Stanford’s $7B Ponzi Scheme Will Wait Years to Be Repaid

A world-class fraudster’s elaborate spending proves difficult to unwind. 

At first glance, the effort to recover money for victims of Allen Stanford’s $7 billion Ponzi scheme looks a bit like Jarndyce and Jarndyce, the endless chancery court case satirized in Charles Dickens’ book, “Bleak House.” Stanford, you’ll recall, was convicted by a Houston jury in 2012 for swindling investors and sentenced to 110 years in prison.

Eight years into the case, with no end in sight, the receivership set up in Dallas federal court to unwind Stanford’s fraud has turned up only a small percentage of investors’ lost billions. Just as troubling, nearly half of what has been secured so far has gone to pay lawyers and accountants.

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For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Receiver’s 13th Interim Report Regarding Status of Receivership, Asset Collection and Ongoing Activities

On June 1, 2017, the Receiver filed a report with the Court that discusses the status of the Receivership, the Receivership’s asset collection efforts and ongoing activities

To view the Report, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Ponzi Can’t Claw Back Golf Channel Ad Money

AUSTIN, Texas (CN) – The receiver for R. Allen Stanford’s $7 billion Ponzi scheme cannot demand the return of $6 million paid to The Golf Channel for advertising, which had “reasonably equivalent value” under Texas law, the Texas Supreme Court ruled Friday.

The ruling is the first time the high court has weighed in on the notorious Ponzi scheme that involved the sale of phony certificates of deposits…………………..

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For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/



Stanford Receiver Blames Ex-Diplomat For Missing Red Flags

Law360, Dallas (February 10, 2015, 8:31 PM ET) — The receiver for the R. Allen Stanford Ponzi scheme on Tuesday told jurors a former U.S. diplomat traveled the world for years on Stanford’s behalf, trading on his good reputation to open doors that broadened the fraud, during the trial’s second day of testimony.

Receiver Ralph Janvey is seeking the return of about $1.1 million paid to former U.S. ambassador to Ecuador Peter Romero, who served on Stanford’s International Advisory Board. On the stand, Janvey aimed to shred Romero’s main defense: that he was an outside…

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For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/