Grant Thornton to Issue Claims Cheques Directly

For future reference all payments will be issued by cheque direct from Grant Thornton and sent to the registered address of the claim victim.

Marcus has been made aware of all the problems that victims have had in receiving payments from ItalBank and in light of all the complaints has decided to sever Grant Thornton’s original arrangement to have payments sent through ItalBank.

The initial concept was because of the problems experienced mainly by the Latin American victims who were not receiving payments coming from Gilardi on behalf of the payment schedules from Ralf Janvey.

It was thought that working with ItalBank (a Latin American Based Bank) and allowing the Latin American victims to be able to open accounts for their payments would help address and solve the problem. Unfortunately this was not the case and ItalBank seemed to have created more problems than they solved.

Marcus Wide has asked that any victim that has experienced difficulty in receiving their payments should make Grant Thorton aware of their problems and Grant Thornton will check the claims and where payment has not been received, they will remedy this oversight.

Please do not waste time and money by making spurious claims that have already been paid, but genuine oversights by ItalBank will be addressed and oversights rectified.

Marcus Wide has made his personal email address available so that he can monitor and have knowledge of the problems.

All outstanding – unpaid – claims should be sent to either

marcus.wide@uk.gt.com or Stanford.enquiries@uk.gt.com

 

Read Read more Here:

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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Bernard Madoff, Allen Stanford fraud victims refused appeals by US top court

Victims of the Ponzi schemes of Bernard Madoff and Allen  Stanford, two of the largest in US history, suffered setbacks on  Monday as the US Supreme Court refused to hear appeals in  two cases seeking to recoup more money for them

Victims of the Ponzi schemes of Bernard Madoff and Allen Stanford, two of the largest in US history, suffered setbacks on Monday as the US Supreme Court refused to hear appeals in two cases seeking to recoup more money for them

 

Victims of the Ponzi schemes of Bernard Madoff and Allen Stanford, two of the largest in US history, suffered setbacks on Monday as the USSupreme Court refused to hear appeals in two cases seeking to recoup more money for them.

 

In the Madoff case, the court rejected a request by Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, to review the dismissal of his claims against banks he accused of enabling Madoff’s fraud.

 

Separately, the court rejected a request by Ralph Janvey, a receiver unwinding Stanford’s businesses, to review a ruling that blocked him from pursuing claims against Stanford employees on behalf of the receivership’s creditors, not the businesses themselves. In both cases, lower courts concluded that Picard and Janvey lacked standing to bring their respective claims.

The Supreme Court did not give reasons for its decisions, which leave intact a June 2013 ruling in the Madoff case by the federal appeals court in New York, and an August 2013 ruling in the Stanford case by the federal appeals court in New Orleans.

Representatives for Picard and Janvey were not immediately available to comment. Picard has recovered about $9.82 billion for former Madoff customers, who he has estimated lost $17.5 billion of principal in a decades-long fraud uncovered in December 2008. A Ponzi scheme is one in which the early investors are usually paid high returns using money from later investors.

Picard had sued banks including JPMorgan Chase & Co, Britain’s HSBC Holdings Plc, Italy’s UniCredit SpA and Switzerland’s UBS AG over their dealings with Madoff. JPMorgan, which was Madoff’s main bank, was dropped from the case after reaching a $325 million settlement with Picard in January, part of a $2.6 billion global resolution of federal and private Madoff claims.

Stanford’s estimated $7.2 billion fraud was based on the sale of bogus certificates of deposit issued by Antigua-based Stanford International Bank to customers who thought the CDs were safe. The Ponzi scheme was uncovered in February 2009.

Janvey won court approval for an initial $55 million distribution to CD investors in April 2013. Madoff, 76, is serving a 150-year prison term after pleading guilty in March 2009. Stanford, 64, is serving a 110-year term following his jury conviction in March 2012. The cases are Picard v JPMorgan Chase & Co et al, USSupreme Court, No. 13-448; and Janvey v Alguire et al, USSupreme Court, No. 13-913.

 

To join the debate 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/

 

 

ITALBANK Questions and Answers

I have today spoken to one of the directors of ITALBANK. I am asking all victims that have any questions or problems with the system that the bank have set up for payment to please post your queries on this forum. I will then get an answer directly from ITALBANK and you will be able to share their answer with all of the other victims via this forum and the blog. Please let other victims know that this forum will be helping you to get the answers you are looking for and we will also get you any help you may need in completing the necessary forms for a payment.

Please keep this posting strictly for questions and answers concerning registration or payments with ITALBANK.

To post your questions 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/

Distribution Schedules

In accordance with the Court’s May 30, 2013 Order Approving Receiver’s Interim Distribution Plan, the Receiver has filed the following schedules of distribution payments with the United States District Court for the Northern District of Texas, Dallas Division. This page will be periodically updated with additional schedules that are filed on a rolling basis as responses to Certification Notices are received and processed.

* 1st Schedule (August 20, 2013)

Grant Thornton Distribution Process & Forms

On 20 January 2014, the agreement reached by the Joint Liquidators (“JLs”) of Stanford International Bank (“SIB”) and ItalBank International, Inc. (“ItalBank”) to act as distribution agent for the dividend payments of SIB to its creditors was announced. As a first step in this process, we need to collect the payment preferences of creditors.

Through ItalBank, you can choose to receive payments by bank transfer to an account in your name, your Trust name or your company name. We will not make payments to third parties, but rather, only to the same name in which accounts were held with SIB. The JLs will also offer the option of U.S. dollar checks to the same name registered in the accounts with SIB and mailed to the mailing address listed on your proof of debt form.

For those with trust accounts who wish for the settlors to be paid rather than the Trust, please contact stanford.enquires@uk.gt.com for a Deed of Revocation Order, to revoke the trust.

If you would prefer to open a new account, we gladly invite you to become a client of ItalBank.

Once you have reviewed our information please choose one of the following options:

  • I wish to receive my payments in an account in my name or the name of my company, in a bank located in the United States of America. Click Here to Download Form.
  • I wish to receive my payments in an account in my name or the name of my company, in a bank located in one of the countries of the European Union. *All payments will be made in U.S. dollars. Click Here to Download Form.
  • I wish to receive my payments in an account in my name or the name of my company, in a bank located in another country (excluding the U.S. or the European Union). Click Here to Download Form.
  • Payment Instructions (Wire) Click Here to Download.Payment Instructions (Checks) Click Here to Download.
  • I would like to open an Individual Account in ItalBank.
  • I would like to open a Commercial Account in ItalBank.
  • I would like to receive a check in USD, to my proof of debt mailing address.

ItalBank International Information:

ItalBank International is registered in the Commonwealth of Puerto Rico since 2008 and holds a license issued by the Office of the Commissioner of Financial Institutions of Puerto Rico (OCFI) to operate as an International Banking Entity (IBE), under the “International Banking Center Law” and subject to all applicable federal banking laws and regulations of the United States. ItalBank is a financial institution focused on the Latin American market. Its headquarters are located in San Juan, Puerto Rico. ItalBank serves Latin American clients who want to protect their savings, having them deposited in a U.S. bank, while enjoying first class banking services.

Products

ItalBank offers personal and companies current accounts, certificates of deposit (CD´s), international credit cards, trade and investment finance.

Services

Our services include online banking, through which customers can access their balances, transaction history, make requests to transfer of funds and access the “Cash Management” module in the case of companies. All our personal accounts include a free MasterCard debit card and have no monthly limit international bank transfers.

To learn more, we include a presentation and we also invite you to visit our website at http://www.italbank.com

To join the debate 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/