Stanford Receiver Tells Jury Investor Should Repay $90M

Law360, Dallas (January 9, 2017, 10:26 PM EST) -- The receiver for the $7 billion Ponzi scheme run by R. Allen Stanford asked a Texas federal jury Monday to allow him to recoup nearly $90 million from a billionaire investor who allegedly learned insider information that tipped him off Stanford was running a fraud.

Kicking off a trial expected to last about a week and a half, receiver Ralph Janvey told jurors investor Gary Magness knew or should have known Stanford International Bank Ltd. was insolvent and engaged in fraudulent activity at the time his...
To view the full article, register now.



Case Information

Case Title

Janvey v. GMAG LLC et al

Case Number



Texas Northern

Nature of Suit

Other Statutes: Securities/Commodities/Exchange


David C Godbey

Date Filed

February 6, 2015

Law Firms


Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.