Political Groups Must Return $1.6M From Stanford: 5th Circ.

Law360, New York (October 23, 2012, 9:16 PM EDT) -- Republican and Democratic political committees must return about $1.6 million in contributions from Robert Allen Stanford, the Texas tycoon convicted of running a $7 billion Ponzi scheme, the Fifth Circuit ruled Tuesday.

A receiver recovering money on behalf of Stanford creditors brought his case against three Republican and two Democratic political committees as soon as he reasonably could, the appeals court said in a written order.

The committees were challenging a court order ruling that Stanford's donations violated a Texas state law against debtors disbursing money...
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