Libyans Got Tip From Stanford To Cash Out: Suit

Law360, New York (June 20, 2011, 6:09 PM EDT) -- Just before his $7 billion Ponzi scheme ended, alleged fraudster Robert Allen Stanford flew to Tripoli to tell Libya's government, the receiver's attorney said Monday regarding a clawback suit in Texas that could soon be unsealed.

U.S. District Judge David C. Godbey has issued an order, also sealed, freezing some $54.8 million in assets belonging to two defendants — the Libyan Foreign Investment Co. and the Libyan Investment Authority — according to attorney Kevin M. Sadler of Baker Botts LLP, who represents receiver Ralph S. Janvey....
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