Golf Channel Says $6M Stanford Payment Was Legit

Law360, New York (April 28, 2011, 5:26 PM EDT) -- Golf Channel Inc. said in Texas federal court Wednesday that $5.9 million it received from indicted Ponzi schemer Robert Allen Stanford's businesses was payment for media services the network performed under contracts and not the fraudulent transfer Stanford's receiver says it was.

Golf Channel, formally TGC LLC, called receiver Ralph Janvey's complaint "vague and conclusory" and refuted claims that it was somehow complicit in the alleged $7 billion scheme.

Golf Channel said it had professional contracts to provide media services in 2007 and 2008 to Stanford...
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