Stanford Owes SEC $6.8B As Ponzi Scheme Fallout Continues

Law360, New York (April 26, 2013, 2:33 PM EDT) -- Attempts by convicted Ponzi schemer Robert Allen Stanford to fight U.S. Securities and Exchange Commission claims related to his alleged $7 billion securities fraud plot came to an abrupt halt Thursday when a Texas federal judge ruled in the agency’s favor and ordered him to pay $6.76 billion.

U.S. District Judge David C. Godbey ordered Stanford to pay $6.76 billion to the SEC, a sum that includes the $5.9 billion the agency was originally looking for, plus $861 million interest. The ruling also rejects Stanford’s earlier argument...
To view the full article, register now.




Case Information

Case Title

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

Case Number



Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange


David C Godbey

Date Filed

February 17, 2009

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.