Stanford Receiver To Pay Out $50M To Ponzi Victims

The receiver for the $7 billion R. Allen Stanford Ponzi scheme on Friday sought permission from a Texas federal judge to distribute another $50 million to victims of the massive fraud, paying out 1 percent of each claim after the receiver reached settlements with lawyers and auditors.

The proposed distribution would be the third payment to Stanford’s thousands of victims since 2013, totaling about 2.5 percent of victim claims. Most of the $50 million payout is coming from two settlements: a $40 million settlement with accounting…

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