Stanford Investors Attack Receiver's Clawback Efforts

Law360, New York (July 8, 2011, 1:51 PM EDT) -- Four purported victims of Robert Allen Stanford's alleged $7 billion Ponzi scheme ripped the receiver tasked with recovering money Thursday, asking a federal judge in California for leave to intervene in the proceedings.

Katherine Burnell, Ursula Mesa, Marcelo Avila-Orejuela and Steven Graham — part of a group of 500 investors styled the KLS Stanford Victims — claim Stanford receiver Ralph S. Janvey has spent more than $118 million on the collection effort but has only recovered about $120 million.

The motion marked a public attack on...
To view the full article, register now.




Case Information

Case Title

Securities and Exchange Commission v. Stanford International Bank Ltd et al

Case Number



Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange


David C Godbey

Date Filed

February 17, 2009

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.