Chadbourne, Proskauer Targeted Over $7B Stanford Fraud

Law360, New York (February 1, 2013, 1:34 PM EST) -- Stanford Financial Group's receiver sued Proskauer Rose LLP and Chadbourne & Parke LLP on Thursday for allegedly helping Robert Allen Stanford pull off his $7 billion Ponzi scheme, two weeks after the U.S. Supreme Court said it would review investor class actions over the firms' alleged role.

Ralph S. Janvey, the receiver for Stanford's bank and related financial entities, claims lawyer Thomas V. Sjoblom, formerly with Chadbourne and later with Proskauer, helped Stanford's bank hide his shady dealings from the U.S. Securities and Exchange Commission beginning in 2005.

"Sjoblom — who had 20 years of experience as a senior lawyer in...

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