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Join the Securities Litigation and Enforcement Group on LinkedInAllen 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 […]
Court Ordered to Tell Allen Stanford Why It Won’t Release Him
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, […]
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 […]
SocGen to Pay $157 Million Over Allen Stanford Fraud Claims – Bloomberg
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 […]
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 […]
Five years after Stanford scandal, many victims penniless — CNBC
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
Stanford Investors Sue Antigua, Caribbean Central Bank
The Official Stanford Investors Committee accuses elected officials in Antigua and Barbuda of having been “Stanford’s partners in crime.”
Stanford ex-CFO Davis gets 5-year prison sentence
Government’s top witness pleaded guilty to fraud, conspiracy to commit fraud and conspiracy to obstruct an SEC investigation.
Stanford Ex-Finance Chief Seeks to Shorten Term to Four Years
Former Stanford Financial Group CFO seeks to cut 26 years off of his potential 30-year sentence.
Stanford Receiver and Antiguan Liquidators End Tug-Of-War over Investor Claims
Competing liquidators vow to work together to recover assets for Stanford investors.