Trustmark Fights $2M Stanford Payment In 5th Circ.

Law360, New York (August 10, 2012, 4:22 PM EDT) -- Trustmark National Bank on Friday appealed to the Fifth Circuit a Texas federal judge’s order to cough up $2 million to the receiver for the estate of convicted Ponzi schemer Robert Allen Stanford, even as it faces fines for not turning over the money.

Trustmark, which has fought the order requiring it to turn over cash collateral Stanford had deposited with it for more than a year, filed an emergency motion with the Fifth Circuit to stay a Thursday order by U.S. District Judge David C....
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