Stanford Receiver's 1st Win Sparks Hope For More Recoveries
Law360, Dallas (February 13, 2015, 8:33 PM EST) -- A jury’s verdict Friday finding a former adviser to convicted Ponzi schemer R. Allen Stanford had been unjustly enriched and should return his consulting fees is a significant victory for the receiver that indicates jurors’ sympathy for the victims, lawyers say.
Alone, the verdict against former Ambassador Peter Romero isn’t going to trigger a cavalcade of settlement offers from the more than 1,300 remaining defendants in nearly 60 fraudulent transfer suits brought by receiver Ralph Janvey. But if Janvey can rack up a series of wins in upcoming trials in federal court, defendants who have so far fought tooth and nail against returning...
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