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...
To view the full article, register now.




Case Information

Case Title

Janvey et al v. The Golf Channel, Inc.

Case Number



Texas Northern

Nature of Suit

Other Statutes: Other Statutory Actions


David C Godbey

Date Filed

February 15, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.