Las víctimas olvidadas de Stanford ahora disponible en español

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

http://victimasolvidadasdestanford.blogspot.com/

Wednesday, April 22, 2015

Judge allows case against Stanford banks to go on

A federal judge in Dallas has upheld most of the claims in a major lawsuit against five banks accused of playing a role in Texas financier Allen Stanford's massive Ponzi scheme.

Tuesday's ruling by U.S. District Judge David Godbey means the suit filed in 2009 on behalf of thousands of Stanford victims can proceed against the banks, which include HSBC, Societe Generale, Toronto Dominion Bank, Trustmark National Bank and the Bank of Houston. The suit accuses the banks of playing "an essential role" in the $7 billion fraud, which each bank has denied.

While Godbey threw out some of the claims the victims were pursuing under Texas state law, the ruling allows the bulk of the case to move forward in federal court. That is important to the more than 20,000 Stanford victims, because unlike victims of the Bernard Madoff Ponzi scheme uncovered just two months earlier, they have recovered almost nothing. Also, while the Justice Department and federal authorities reached a $2 billion settlement last year with Madoff's primary banker, JPMorgan Chase, they have thus far declined to pursue similar cases against Stanford's bankers. That means that for Stanford's victims, this civil case may be one of their last remaining hopes for a meaningful recovery.

Read the court Ruling Here:

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


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