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Browse: Home / 2011 / November / 17 / Victim payout plan sought in Stanford’s Ponzi case

Victim payout plan sought in Stanford’s Ponzi case

By Securities Docket on November 17, 2011, 7:11 pm

Victims of Allen Stanford’s alleged $7.2 billion Ponzi scheme may soon have a chance to submit claims, though it remains unclear how much of their losses they might ultimately recover. Ralph Janvey, the court-appointed receiver for Stanford’s firm, asked a federal judge in Dallas for permission to set up a claims process, more than 2-1/2 years after the financier’s arrest, a Wednesday court filing shows. Approval of the request could pave the way for investors to recover at least some of the money lost in Stanford’s alleged fraud, a sum believed to be $2 billion or more.

Read more: Victim payout plan sought in Stanford’s Ponzi case — News & Insight

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Posted in Criminal, SEC, Top | Tagged Stanford Financial, Trustee

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