Las víctimas olvidadas de Stanford ahora disponible en español

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

http://victimasolvidadasdestanford.blogspot.com/

Thursday, April 7, 2016

The Texas Supreme Court Rules in favor of The Golf Channel over the Stanford Ponzi Receiver—Ruling will Likely Limit Future Clawback Suits in Similar Cases

Background 

 Like many other Ponzi schemes, R. Allen Stanford’s operated by selling Certificates of Deposit and paying an initial group of victims a high return using subsequent investors’ money, all the while taking large portions of the investment funds for himself and his various entities (the “Stanford Entities”). While the Ponzi scheme’s perpetrator and many of his associates were sentenced to prison, hundreds of civil suits were filed in various courts that related to and stemmed from the Stanford Ponzi scheme.

 More than seven years ago, Ralph Janvey (“Janvey”) was appointed Receiver for the Stanford Entities and tasked with recovering as much money as possible from the $7.2 billion Ponzi scheme that defrauded over 18,000 people and returning that money to the investors. To achieve this aim, one tool Javney uses is the filing of clawback suits against those companies who were paid by the Stanford Entities but provided no real value in return.

The Golf Channel Case 

 The Stanford Entities heavily invested in and marketed through various sporting channels and events. The Stanford International Bank became the chief sponsor of the Stanford St. Jude’s Championship, a PGA Tour event that was held annually in Memphis, Tennessee and broadcast by The Golf Channel, Inc. (“The Golf Channel”).............


To view the full article, 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/


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