Judge Raises Stanford Receiver Rate To $400 Per Hour

Law360, New York (April 6, 2012, 3:39 PM EDT) -- A Texas federal judge said Wednesday that the receiver in charge of recovering for investors in R. Allen Stanford's Ponzi scheme could raise his fees to his customary $500 hourly rate minus a 20 percent discount, over protests from investors who say they haven't yet received a penny.

U.S. District Judge David C. Godbey said receiver Ralph Janvey could bill at his customary $500-an-hour rate, minus a 20 percent discount and a 10 percent holdback, granting part of Janvey's March 9 motion that said the 2009...
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