Allen Stanford News

Court Relieves Insurers of $65 Million Payment Linked to Stanford Ponzi Scheme

A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110-year prison term for running a large Ponzi …

Willis to Pay $120 Million to Settle Claims Over Stanford Ponzi Scheme Role

The insurance brokerage Willis Towers Watson Plc has agreed to pay $120 million to settle litigation accusing it of helping now-imprisoned Texas financier Allen Stanford run a $7.2 billion Ponzi scheme, court papers show. The papers, in which Willis denied …

Court Finds Law Firms Not Liable in Financier Stanford’s Ponzi Scheme

Two big New York law firms that represented the now-imprisoned financier Allen Stanford persuaded a federal appeals court on Thursday to throw out a lawsuit claiming that they helped conceal his $7.2 billion Ponzi scheme. Reversing a lower court ruling, …

Stanford Scheme Victims Not Eligible for Securities Coverage: Court

A U.S. appeals court dealt a blow to the victims of Allen Stanford’s Ponzi scheme on Friday, ruling that they are not 0eligible under federal law to file claims seeking compensation for their losses. The decision by the U.S. Court …

Supreme Court Allows Stanford Fraud Suits by Investors; Willis Among Defendants

Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue outside companies, including insurance broker Willis and law firms, alleged to have played a role in the fraud, the U.S. Supreme Court ruled, dealing a setback to the securities …

SEC Battles Industry Fund over Stanford Victims’ Claims

U.S. regulators sought to overturn a 2012 court ruling that prohibited victims of Allen Stanford’s $7 billion Ponzi scheme from seeking compensation, in an unprecedented legal battle between the government and an industry-backed fund that protects investors. In oral arguments …

Supreme Court to Hear Stanford Ponzi Lawsuits, Workplace Bias Case

The U.S. Supreme Court last Friday agreed to hear four new cases, addressing matters as diverse as the reach of a law designed to combat chemical weapons, and whether lawyers could be sued for having once represented convicted swindler Allen …

Judge Lets Claim Against U.S. Over Stanford Ponzi Scheme Go Ahead

A lawsuit claiming U.S. securities regulators were negligent in failing to respond earlier to Allen Stanford’s $7 billion Ponzi scheme can go forward for now, a federal judge ruled in Florida on Friday. U.S. District Judge Robert Scola rejected the …

Willis Among Targets of Stanford Third Party Class Actions

Victims of Allen Stanford’s estimated $7 billion Ponzi scheme won a victory when a federal appeals court said they may pursue class-action litigation against third parties they believe aided in the now-convicted swindler’s fraud. The 5th U.S. Circuit Court of …

Jurors: Evidence Overwhelming in Stanford Trial

In the end, the flashy business suits, charming smile, yachts, luxurious private jets and a passion for the sport of cricket couldn’t mask what Texas tycoon R. Allen Stanford actually was: a con man. Jurors who convicted the financier on …