Las víctimas olvidadas de Stanford ahora disponible en español

Las víctimas olvidadas de Stanford, ahora disponible en español en:

http://victimasolvidadasdestanford.blogspot.com/

Monday, July 27, 2015

Ponzi schemer Allen Stanford's victims wait for outcome of US federal appeal

HOUSTON, USA -- Those observers who have been following Allen Stanford's $7 billion Stanford International Bank Ponzi scheme, with the resulting 110-year sentence imposed upon him, are awaiting an opinion by the Fifth Circuit Court of Appeals, which is handling Stanford's criminal appeal.

The appellant's reply brief was filed back in March, but the Court has not yet made it ruling on the sentence and conviction.

Though Stanford requested oral argument, and the US government argued none was necessary, the Court has not assigned the appeal to the oral argument calendar, and since three-quarters of Federal criminal appeals are decided without hearing oral argument, it is probable that it will not be approved. Stanford appears to have an uphill battle in his case, as statistically only around five percent of such appeals are reversed.


 If his conviction and sentence are affirmed, Stanford's release date will remain April 17, 2105, ninety years from now. He is presently serving his sentence at USP Coleman, in Florida. Although it is little consolation to those investors who lost everything due to Stanford's massive fraud, he will not live to the age of 155, to be released back into the community.

Read more Here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Wednesday, July 22, 2015

Receiver files 12th Schedule of Payments to be Made Pursuant to the 1st Interim Distribution Plan

Receiver files 12th Schedule of Payments to be Made Pursuant to the 1st Interim Distribution Plan.

On July 21, 2015, the Receiver filed his 12th Schedule of distribution payments under the 1st Interim Distribution Plan with the United States District Court for the Northern District of Texas, Dallas Division.

The 12th Schedule will be followed by others, each of which will be submitted by the Receiver on a rolling basis as additional responses to Certification Notices are received and processed.

To view a copy of the 12th Schedule, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Thursday, July 16, 2015

Litigator of the Week: Gold and Coin Wholesaler Wins Take-Nothing Verdict in Stanford Litigation


An Addison-based coin and gold wholesaler won a take-nothing verdict in a fraud case involving ongoing Stanford litigation.

With the favorable outcome on July 10, the wholesale company, Dillon Gage, successfully fought back against a $5.1 million clawback claim. The receiver, who represents claimants who lost assets with R. Allen Stanford's Ponzi scheme, had filed the lawsuit against Dillon Gage.

Orrin Harrison, who represents Dillon Gage, worked hard during a trial to unlink in jurors' minds any relationship between Stanford's Ponzi scheme and his client's customer.

"We were able to show that our customer was not part of the Ponzi scheme," said Harrison, of Gruber Hurst Elrod Johansen Hail Shank.

Stanford, a Houston financier behind the Ponzi scheme, was sentenced to 110 years in federal prison after his 2012 fraud conviction.

 In a complaint, Ralph Janvey, the receiver for Stanford International Bank, alleged that Stanford Coins and Bullion made $5,120,155.67 in payments to Dillon Gage with the intent to hinder, delay or defraud one or more of its creditors. In addition, Janvey alleged that when Dillon Gage accepted those transfers, it had been notified that Stanford Coins and Bullion was "diverting customer money to try to stay afloat."

 In its answer and at trial, Dillon Gage denied the allegations. A pivotal jury charge instructed the jurors that a debtor's mere intention to prefer one creditor over another did not indicate fraud.

Kevin Sadler, a partner in Baker Botts' Palo Alto office, who represents Janvey, did not return a call for this story.

 "The receiver has done a great job of shutting Stanford down and seeing fraud under every rock," Harrison recalled telling jurors at his closing. But the dynamics between his client and Stanford Bullion and Coins were nothing more than "playing the float," he told the panel members. He compared Dillon Gage's customer's action to paying off one credit card using funds available from another card.

 In less than four hours of deliberations, the jurors agreed, 7-0, with Harrison's characterization—enough at least to issue the take-nothing verdict.

Read more Here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Thursday, July 9, 2015

SCOTX to Take Swing at Stanford Litigation Involving the Golf Channel


The attempts to recover $7 billion R. Allen Stanford took in his massive Ponzi scheme has required six years of claw-back litigation in a Dallas U.S. district court, numerous decisions by the U.S. Court of Appeals for the Fifth Circuit, and even an appeal to the U.S. Supreme Court.

 And now the Texas Supreme Court is likely to weigh in on a question in the case that could determine whether several companies who unwittingly did about $40 million in business with the former Houston financier will to have to give the money back to a court-appointed receiver.

Stanford was sentenced to 110 years in federal prison after a jury convicted him of fraud in 2012.

In March, the Fifth Circuit handed a big victory to Ralph Janvey in Janvey v. Golf Channel, by allowing the court-appointed receiver to recover nearly $6 million Stanford paid the Golf Channel to promote his golf tournament under the Texas Uniform Transfer Act (TUFTA).


Read the entire article Here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/