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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 […]
Robert Allen Stanford, who is serving a 110-year sentence for orchestrating a multi-billion dollar Ponzi scheme, was entitled to some explanation when a federal court denied his bid for compassionate release, the US Court of Appeals for the Fifth Circuit said Thursday. Stanford asked to be released based on the dangers posed by the pandemic, […]
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 […]
Société Générale Private Banking has agreed to pay $157 million to settle a lawsuit that alleges a group of banks enabled the $7 billion Ponzi scheme of financier R. Allen Stanford, according to a federal court filing Tuesday in Texas. The settlement comes as HSBC Bank, Toronto-Dominion Bank and Independent Bank — formerly Bank of […]
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 […]
Five years after learning they were victims of a $7 billion Ponzi scheme, investors in the Stanford Financial Group say they feel abandoned, even though their losses rival those in the Madoff scam that was revealed two months earlier. via Five years after Stanford scandal, many victims penniless — CNBC
The Official Stanford Investors Committee accuses elected officials in Antigua and Barbuda of having been “Stanford’s partners in crime.”
Government’s top witness pleaded guilty to fraud, conspiracy to commit fraud and conspiracy to obstruct an SEC investigation.
Former Stanford Financial Group CFO seeks to cut 26 years off of his potential 30-year sentence.
Competing liquidators vow to work together to recover assets for Stanford investors.