Ex-Stanford Unit Exec Seeks Exit From Ponzi Class Action

Law360, New York (September 30, 2011, 8:47 PM EDT) -- The onetime president of a company associated with alleged Ponzi schemer Robert Allen Stanford asked a Texas federal court Friday to dismiss him from a putative class action accusing him and other directors and officers of aiding in the massive fraud.

Louis Fournet was president of Stanford Trust Co. from April 2007, when he joined, until he resigned 16 months later. He wasn't even associated with the company until "almost nine years after [the company's] formation and decades after the beginnings of Stanford's Ponzi scheme," he...
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