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 …
Former billionaire Allen Stanford was sentenced in Houston to 110 years in prison on July 14 for running a $7 billion scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean. His attorneys …
Victims of Allen Stanford’s estimated $7 billion Ponzi scheme won a victory when a federal appeals court said they may pursue class-action litigation against third parties they believe aided in the now-convicted swindler’s fraud. The 5th U.S. Circuit Court of …
In the end, the flashy business suits, charming smile, yachts, luxurious private jets and a passion for the sport of cricket couldn’t mask what Texas tycoon R. Allen Stanford actually was: a con man. Jurors who convicted the financier on …
The conviction of Allen Stanford on Tuesday for orchestrating a $7 billion Ponzi scheme could be bad news for two prominent law firms and an attorney facing civil lawsuits arising out of the Texas financier’s crimes. Attorney Thomas Sjoblom and …
Federal securities regulators have sued a brokerage industry backed fund on behalf of victims who lost money in Allen Stanford’s alleged $7 billion Ponzi scheme and have yet to recover any funds. The U.S. Securities and Exchange Commission asked a …
