Stanford Receiver Renews Fight Over $88M Clawback Verdict

By Cara Salvatore (October 13, 2017, 5:18 PM EDT) -- The court-appointed receiver handling the Ponzi implosion of Stanford International Bank asked a Texas federal judge on Thursday to overturn a jury's decision keeping $88 million in Stanford cash in the hands of the cable and truck-racing magnate who received it shortly before Stanford collapsed.

Receiver Ralph Janvey filed a renewed motion for judgment as a matter of law, asking a judge to undo a jury verdict finding that Janvey cannot claw back the money from Gary Magness' legal entities. Janvey told U.S. District Judge David Godbey there's crystal-clear evidence that the Magness entities received the money while on full notice of grave...

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