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...
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