Ex-Stanford Advisers Want High Court To Force Arbitration

By Jess Krochtengel (August 15, 2017, 6:53 PM EDT) -- Former financial advisers who sold investments in what turned out to be a $7 billion Ponzi scheme run by R. Allen Stanford have asked the U.S. Supreme Court to reverse the Fifth Circuit and order to arbitration the Ponzi scheme receiver's attempt to claw back $215 million.

In a petition for certiorari, former employees of a Stanford Financial Group and other related companies linked to the massive fraud argued the Fifth Circuit in January split from precedent in the Sixth, Tenth and Eleventh Circuits when it held receiver Ralph Janvey can bring fraudulent transfer claims against them in court. A Fifth...

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