Stanford Owes SEC $6.8B As Ponzi Scheme Fallout Continues

Law360, New York (April 26, 2013, 2:33 PM EDT) -- Attempts by convicted Ponzi schemer Robert Allen Stanford to fight U.S. Securities and Exchange Commission claims related to his alleged $7 billion securities fraud plot came to an abrupt halt Thursday when a Texas federal judge ruled in the agency’s favor and ordered him to pay $6.76 billion.

U.S. District Judge David C. Godbey ordered Stanford to pay $6.76 billion to the SEC, a sum that includes the $5.9 billion the agency was originally looking for, plus $861 million interest. The ruling also rejects Stanford’s earlier argument...
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