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.

Documents

Related

Sections

Case Information

Case Title

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


Case Number

3:09-cv-00298

Court

Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange

Judge

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.