Stanford Insurers, Trust Co. Face $80M Investor Suit

Law360, New York (September 15, 2009, 5:04 PM EDT) -- A group of Stanford International Bank Ltd.’s investors is seeking roughly $80 million in damages from the insurance brokers and a trust company they say helped Stanford perpetrate a $7 billion Ponzi scheme.

97 investors filed suit Monday in the district court in Bexar County, Texas, accusing Willis Group Holdings Ltd. and Bowen Miclette & Britt Inc. of facilitating the massive fraud by vouching for Stanford International Bank Ltd. and falsely assuring investors that their funds were adequately protected.

The brokers are already embroiled in numerous...
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