Time Frame of next distribution from US Receiver

To Gilardi 
I have tried to talk to you on the phone, today I have waited more than 9 minutes and no one has answered, the machine at the time said there was no body before my call.
Would like to know when are you going to distribute the last order of distribution orders by the Court on March 22-2016. We need to know aka soon as possible. Thank you
You may respond to me at this e-mail (email address redacted)

Response from Gilardi 
Dear Claimant,
A distribution schedule pursuant to the Receiver’s 3rd Interim Plan has not yet been approved by the Court, the claims agent will not be able to speculate on when a distribution will occur until after a distribution schedule is approved.

To Gilardi 
You are not correct, the distribution process was approved by the court on March 22-2016. Please give information that is correct and remember, we are asking for what is rightfully ours, and you must answer as soon as possible.

Response from Gildardi 
Dear Claimant,
There is a difference between a distribution plan being approved and a specific distribution schedule or schedule of payments being approved. As an example please refer to the Order Approving Receiver’s Second interim Distribution Plan vs. Receiver’s 1st Schedule of Payments to be made Pursuant to the 2nd Interim Plan.

Until a schedule of payments pursuant to the 3rd Interim Plan is approved by the Court, the Claims Agent will not be able to speculate on when payments will begin.


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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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…

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 http://sivg.org.ag/



SEC’s Stanford Case A Chance To Clarify Compliance Duties

Compliance officers who worry they have an enforcement target on their back may soon get some clarity — and perhaps reassurance — from the U.S. Securities and Exchange Commission when it rules on a case involving convicted Ponzi schemer R. Allen Stanford’s former top compliance manager.

On Monday, the SEC is scheduled to hear oral arguments in an appeal by Bernerd Young, a former regulator who was the chief compliance officer at Stanford Group Company Inc. at the time the $7 billion fraud was exposed. He…

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 http://sivg.org.ag/



Receiver files 3rd Schedule of Payments to be Made Pursuant to the 2nd Interim Distribution Plan

On February 2, 2016, the Receiver filed his 3rd Schedule of distribution payments under the 2nd Interim Distribution Plan with the United States District Court for the Northern District of Texas, Dallas Division. The 3rd Schedule will be followed by others, each of which will be submitted by the Receiver on a rolling basis.

To view a copy of the 3rd Schedule, 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/



TD missed ‘warning signs’ about notorious fraudster, lawsuit alleges

Allen Stanford, the Texas-born ex-billionaire responsible for one of the world’s largest Ponzi schemes, is serving a 110-year sentence in a Florida prison. But outside those walls, other legal battles over his massive fraud are still being waged and involve one of Canada’s largest financial institutions: Toronto-Dominion Bank.

Mr. Stanford, now 65, was once known as Sir Allen, after he was knighted in his adopted home of Antigua and Barbuda, before his title was revoked. He was supposed to be running what appeared to be a staggeringly successful private offshore bank. But in fact, he and a small group at the top of his organization were looting his Stanford International Bank Ltd., using some new investors’ money to pay returns to previous ones and living large on much of the rest.

His empire came crashing down in 2009, when his bank was exposed as a massive fraud that cost his 21,000 investors at least $5.5-billion (U.S.). But until then, he enjoyed a lifestyle worthy of a Bond villain, acquiring his own small Caribbean island for $63-million, a fleet of private jets and helicopters, and a handful of luxurious mansions that included a 57-room “castle” in South Florida, complete with a moat…………………

Read the Entire Article here.

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