Billionaire Slams Stanford Receiver's $88M Clawback Bid

By Matthew Guarnaccia (February 16, 2017, 6:02 PM EST) -- A Colorado billionaire who won a jury trial in an $88 million clawback suit aimed at recovering money invested in R. Allen Stanford's $7 billion Ponzi scheme told a Texas federal judge on Wednesday the receiver for the fraud continues to use arguments rejected previously to force a judgment against him.

Billionaire Gary Magness said Ralph S. Janvey continues to claim it would not have been futile to investigate the source of $88.2 million in loans received from a bank affiliated with the scheme, despite multiple court rulings and a jury verdict which found otherwise. Janvey contends that since the jury...

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