Three banks agreed to pay $1.35 billion to resolve litigation by former Allen Stanford investors who accused them of contributing to the imprisoned financier’s massive Ponzi scheme. Canada’s Toronto-Dominion Bank will pay $1.205 billion, HSBC Holdings Plc will pay $40 …
A court-appointed receiver has recouped more than $1 billion for victims of Texas financier Allen Stanford’s Ponzi scheme, the largest by dollar amount other than Bernard Madoff’s fraud, the receiver’s lawyers said on Monday. The threshold was crossed when Ralph …
A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for running a large Ponzi …
The insurance brokerage Willis Towers Watson Plc has agreed to pay $120 million to settle litigation accusing it of helping now-imprisoned Texas financier Allen Stanford run a $7.2 billion Ponzi scheme, court papers show. The papers, in which Willis denied …
Two big New York law firms that represented the now-imprisoned financier Allen Stanford persuaded a federal appeals court on Thursday to throw out a lawsuit claiming that they helped conceal his $7.2 billion Ponzi scheme. Reversing a lower court ruling, …
A U.S. appeals court dealt a blow to the victims of Allen Stanford’s Ponzi scheme on Friday, ruling that they are not 0eligible under federal law to file claims seeking compensation for their losses. The decision by the U.S. Court …
Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue outside companies, including insurance broker Willis and law firms, alleged to have played a role in the fraud, the U.S. Supreme Court ruled, dealing a setback to the securities …
U.S. regulators sought to overturn a 2012 court ruling that prohibited victims of Allen Stanford’s $7 billion Ponzi scheme from seeking compensation, in an unprecedented legal battle between the government and an industry-backed fund that protects investors. In oral arguments …
The U.S. Supreme Court last Friday agreed to hear four new cases, addressing matters as diverse as the reach of a law designed to combat chemical weapons, and whether lawyers could be sued for having once represented convicted swindler Allen …
A lawsuit claiming U.S. securities regulators were negligent in failing to respond earlier to Allen Stanford’s $7 billion Ponzi scheme can go forward for now, a federal judge ruled in Florida on Friday. U.S. District Judge Robert Scola rejected the …
