Tag: Stanford Financial

Allen Stanford Denied Bid for Compassionate Release Once Again

Releasing convicted fraudster Allen Stanford from prison after he’s served only 13 years of his 110-year sentence would be entirely inconsistent with federal sentencing policy, according to Judge David Hittner in Houston. Hittner, a judge for the US District Court for the Southern District of Texas, had already denied Stanford’s latest bid for compassionate release in a July 25 order,…

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TD, other banks reach $1.35 bln settlements to end Stanford litigation | Reuters

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 (HSBA.L) will pay $40 million and Independent Bank Group Inc (IBTX.O) , formerly Bank of Houston, will pay $100 million. Money will go…

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Allen Stanford’s house of cards: How TD banked the 2nd-largest Ponzi scheme in U.S. history | Globalnews.ca

To pull off that massive scam, Stanford needed help and he found it in the most unlikely of places – the Toronto Dominion Bank in Canada. TD banked Stanford and his Antiguan bank for 18 years, starting in 1991, helping him move money from his clients in the U.S. and South America – to accounts he controlled in Toronto. via…

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