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Tuesday, 13 December 2016

United States Supreme Court Denies Petition for Writ of Certiorari in the Criminal Case Against R. Allen Stanford

In 2012, a jury convicted R. Allen Stanford of one count of conspiracy to commit wire fraud and mail fraud in violation of 18 U.S.C. §§ 1341, 1343, and 1349; four counts of wire fraud in violation of 18 U.S.C. §§ 1343 and 2; five counts of mail fraud in violation of 18 U.S.C. §§ 1341 and 2; one count of conspiracy to obstruct a Securities and Exchange Commission (“SEC”) investigation in violation of 18 U.S.C. §§ 1505 and 371; one count of obstruction of an SEC investigation in violation of 18 U.S.C. §§ 1505 and 2; and one count of conspiracy to commit money laundering in violation of 18 U.S.C. § 1956(h). The United States District Court for the Southern District of Texas sentenced Stanford to a term of 110 years in prison, and the United States Court of Appeals for the Fifth Circuit unanimously affirmed the District Court’s judgment. Stanford then filed a petition for writ of certiorari in the United States Supreme Court. On November 28, 2016, the Supreme Court denied Stanford’s petition, thus upholding his 2012 conviction.

To view a copy of the order denying Stanford’s petition, click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Receiver's 12th Interim Report Regarding Status of Receivership, Asset Collection and Ongoing Activities

On December 2, 2016, the Receiver filed a report with the Court that discusses the status of the Receivership, the Receivership's asset collection efforts and ongoing activities.


To view the report, click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Saturday, 12 November 2016

Receiver files the next three Schedules of Payments to Be Made Pursuant to the 1st, 2nd, and 3rd Interim Distribution Plans

On November 11, 2016, the Receiver filed with the United States District Court for the Northern District of Texas, Dallas Division, the 15th Schedule of distribution payments under the 1st Interim Distribution Plan, the 6th Schedule of distribution payments under the 2nd Interim Distribution Plan, and the 2nd Schedule of distribution payments under the 3rd Interim Distribution Plan. These three Schedules will be followed by others, each of which will be submitted by the Receiver on a rolling basis.

To view a copy of these three Schedules, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Thursday, 10 November 2016

OSIC Seek Court Approval for Willis Settlement Agreement

On September 7, 2016, the Receiver, the Official Stanford Investors Committee (“OSIC”) and certain individual Investor Plaintiffs filed a Motion seeking Court approval of a settlement entered into with Willis Towers Watson Public Limited Company (and related persons and entities) (“Willis”). Pursuant to the terms of the settlement, the Receivership Estate will receive $120 million. On October 19, 2016, the Court entered a Scheduling Order setting a hearing on the Motion to Approve the Willis Settlement and establishing a schedule for the submission of objections.

The Court has set a hearing on the Motion to Approve the Willis Settlement at 10:00 a.m. on Friday, January 20, 2017. Any party wishing to file an objection to the Willis Settlement must do so no later than Friday, December 30, 2016.

To view a copy of the Willis Agreement, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Saturday, 17 September 2016

Receiver files 1st Schedule of Payments to be Made Pursuant to the 3rd Interim Distribution Plan

On September 16, 2016, the Receiver filed his 1st Schedule of distribution payments under the 3rd Interim Distribution Plan with the United States District Court for the Northern District of Texas, Dallas Division. The 1st Schedule will be followed by others, each of which will be submitted by the Receiver on a rolling basis.

To view a copy of the 1st Schedule, please click here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Tuesday, 13 September 2016

Stanford Ponzi Opt-Outs Sue Insurance Broker

People with $135 million in claims from R. Allen Stanford's $7 billion Ponzi scheme sued British insurance broker Willis Ltd., claiming it aided and abetted the fraud by issuing false "safety and security" letters.

 Lead plaintiff Edna Abel and 274 other individuals or couples hold more than $135 million in claims approved by court-appointed receiver Ralph Janvey. Stanford, 65, was sentenced in 2012 to 110 years in federal prison for 13 of 14 counts of conspiracy, wire fraud and mail fraud.

 Abel et al. sued Willis of Colorado Inc., WGH Holdings Ltd., and Willis Ltd. on Monday in Dallas Federal Court.

They claim they and their financial advisers were "all influenced" by Willis's conspiring in the scheme, in which they bought Stanford's phony certificates of deposit.

"For many of these plaintiffs, their Stanford investments represented significant portions of their life savings," the complaint states. "These letters provide assurances to potential purchasers of CDs that, among other things, Stanford Financial had passed stringent risk management review by outside auditors."

To view the full article, click Here

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/


Thursday, 8 September 2016

Stanford Receiver, Investors Seek OK Of $120M Willis Deal

The receiver overseeing recovery for victims of R. Allen Stanford’s $7 billion Ponzi scheme and investors on Wednesday asked a Texas federal judge to sign off on a $120 million settlement with insurance brokerage Willis Towers Watson Public Ltd. Co.

Willis had been accused of aiding Stanford’s scheme by vouching for him and his insurance policies in letters to investors, mainly in Latin America, which investors claim helped convince Stanford’s victims that their investments were safe and insured.

 The receiver, Ralph S. Janvey, as well as...

To view the full article, click Here

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum http://sivg.org.ag/