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Wednesday, December 15, 2010


Before reading the following Blog posts it is important to point out to you all that Gaytri has been advised that the Stanford Case against the SEC is the strongest case there has been against them, and that she has also been told that our case stands the best chance of succeeding: although there is no guarantee.

The fact that you put your money into SIB through the bank in Antigua does not preclude you from joining this action, both David Brent and myself also went directly to SIB in Antigua and this does not affect our status for being eligible to join this action. This is open to ALL victims from ANYWHERE in the world regardless of where or how they invested their money with Stanford.

Although the official deadline for joining the action is 16th February 2011, that is the date Gaytri has to deliver the lawsuit to the SEC. She will need to prepare all the individual files on each claimant and supply the SEC with the names and amounts for each claimant, so we should be thinking of our deadline as the End of January in order for her to get everything together.

As David Brent has said, this is the best chance we have of recovery (in our opinion) and even if we are already signed up with Morgenstern and Blue or any other lawyer,, Gaytri is the only one dealing with this particular action so if you want to be included you will need to register with her. Again she has spoken to the lawyers on the committee and they have said they are not interested in taking on any more actions as they have their hands full with the work they are already pursuing. They will assist her with information (to a certain extent) but we have one chance at this and after speaking to her I feel positive about the outcome. David and I have asked PM repeatedly about taking action against the SEC and he has not replied in a positive manner, as I have already said he has his hands full with the cases he is already working on. He knows about this action and being signed up with him does not preclude you from joining this action, I am also signed with PM on the other cases.

Gaytri knows that many of us only have the statement from Vantis and she is prepared to accept this as proof of our accounts with SIB. With regard to SIPC cover, we have to separate this in our minds from any other action, this is separate and we are going after the SEC because they failed to do what they were supposed to do. If we get bogged down in what others are doing we will miss this window of opportunity. That is not to say that we will not still be working on trying to make sure that SIPC cover for the few does not mean the majority paying, we are still trying to get some answer on that one.

Although this is a sort of class action it is quite different from the normal class action in that any lawsuits against the SEC has to contain all the names and details of each claimant, together with a total amount that the lawsuit is seeking, that is why we each have to register and make a claim with Gaytri. Time is of the essence here and as David Brent has said we feel this is the best chance of recouping our losses. Contact the offices of Gaytri Katroo with your details and any question you may have. David and I will do our best to answer as many queries as possible, but read all the documents and then decide individually if you wish to go ahead and register. We also want to reach out to as many victims as possible with this opportunity so if you know anyone who does not read the forum can you inform them about what we are doing.