Leroy King detained for extradition today

The police have arrested the local fraud accused in the Stanford Ponzi scheme, Leroy King, as the extradition process continues to drag on.

Lawmen picked up the former chief of the Financial Services Regulatory Commission earlier today “for extradition purposes”, according to police sources.

His lawyer, Dr. David Dorsett, confirmed this moments ago.

He also told OBSERVER media that he filed an appeal to the recent case that King lost in the Court of Appeal, and he ought not to removed with a case pending.

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 https://www.tapatalk.com/groups/sivg/ 

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Receiver files additional Schedules of Payments to Be Made Pursuant to the 1st, 2nd, 3rd, and 4th Interim Distribution Plans

On March 22, 2018, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 17th Schedule of distribution payments under the 1st Interim Distribution Plan, the 8th Schedule of distribution payments under the 2nd Interim Distribution Plan, the 4th Schedule of distribution payments under the 3rd Interim Distribution Plan, and the 2nd Schedule of distribution payments under the 4th Interim Distribution Plan. These four Schedules will be followed by others, each of which will be submitted by the Receiver on a rolling basis. To view a copy of these four Schedules, 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/



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.

To view the full article, 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/



Receiver and Official Stanford Investors Committee Announce Settlement with Hunton & Williams, LLP

On August 16, 2017, the Receiver, the Official Stanford Investors Committee (“OSIC”) and certain individual Investor Plaintiffs filed a Motion seeking Court approval of a settlement entered into with Hunton & Williams, LLP (“Hunton”). Pursuant to the terms of the settlement, the Receivership Estate will receive $34 million. On August 23, 2017, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Hunton Settlement and establishing a schedule for the submission of objections.

The Court has set a hearing on the Motion to Approve the Hunton Settlement at 10:00 a.m. on Tuesday, November 28, 2017. Any party wishing to file an objection to the Hunton Settlement must do so no later than Tuesday, November 7, 2017.

You may access the materials pertaining to the Hunton Settlement and the HUNTON SETTLEMENT FAQ by clicking HERE

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



Lawmakers press DOJ to help victims of Ponzi scheme

Seven lawmakers on Monday asked the Justice Department to investigate whether a Swiss bank is illegally blocking the transfer of restitution funds for victims of the second-largest Ponzi scheme in United States history.

In a Monday letter, representatives from both parties asked Attorney General Jeff Sessions to review whether Swiss bank Societe Generale is complying with a 2013 settlement meant to return a major portion of $210 million to victims of Allen Stanford’s pyramid investment scheme.

The lawmakers asked Sessions “to review this issue and re-engage on behalf of U.S. victims to expedite the return of the frozen assets so they can be properly distributed.”

To view a the Full Article 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/