5th Circ. Says Trustmark Must Turn Over $2M To Stanford

Law360, Los Angeles (January 9, 2014, 8:36 PM EST) -- The Fifth Circuit on Wednesday refused to overturn an order forcing Trustmark National Bank to pay $1.99 million to the receiver for the estate of convicted Ponzi schemer Robert Allen Stanford, ruling the bank's right to due process hadn't been violated.

Affirming a Texas federal judge's order, the appeals court — which in August 2012 denied the bank's similar efforts to keep the funds — said it wasn't entitled to withhold receivership assets from Ralph S. Janvey, the receiver for Stanford's estate.

The Stanford International Bank...
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Case Information

Case Title

SEC, et al v. Stanford Intl Bank, Ltd.

Case Number



Appellate - 5th Circuit

Nature of Suit

1850 Securities, commodities, Exchange

Date Filed

August 10, 2012

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