Stanford Trustee Can't Toss Ex-Diplomat's Ch. 7 For $1.2M

By Martin O'Sullivan (January 30, 2017, 8:31 PM EST) -- A Maryland federal judge on Monday affirmed a bankruptcy court's refusal to dismiss Chapter 7 bankruptcy proceedings by former U.S. diplomat Peter Romero, saying that the receiver in the Robert Allen Stanford Ponzi scheme can't pursue exempt assets for a $1.2 million judgment against Romero.

Romero, the former ambassador to Ecuador, filed for Chapter 7 bankruptcy protection after a Texas federal judge ordered him to pay $1.2 million in fraudulent transfers from his time as an adviser to Stanford. Stanford receiver Ralph Janvey was denied a bid to dismiss the bankruptcy over claims that it was filed in bad faith due...

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