Stanford Investors Lose Bid To Intervene In Receiver's Suit

Law360, New York (November 14, 2011, 7:45 PM EST) -- A Texas federal judge on Monday refused to allow four purported victims of Robert Allen Stanford's alleged $7 billion Ponzi scheme to intervene in the Stanford receiver's attempts to recover money, saying their allegations against the receiver lacked merit.

U.S. District Judge David C. Godbey said the four investors — Katherine Burnell, Ursula Mesa, Marcelo Avila-Orejuela and Steven Graham, part of a group of 500 investors styled the KLS Stanford Victims — had not shown show how the U.S. Securities and Exchange Commission, receiver Ralph S....
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