A federal judge in Dallas has upheld most of the claims in a major lawsuit against five banks accused of playing a role in Texas financier Allen Stanford's massive Ponzi scheme.
A federal appeals panel has denied the SEC's bid to force the SIPC to help cover the losses of thousands of victims in the Stanford Ponzi scheme.
Ralph Janvey has spent years searching for billions lost in the Stanford Ponzi scheme. CNBC's Scott Cohn sits down with him in an exclusive interview.
The 28,000 people scammed by financier Allen Stanford feel like the "stepchildren in the Ponzi world," one victim said. CNBC's Scott Cohn reports.
Allen Stanford - who has at one time or another been represented by 18 different attorneys - has decided the best person for the job is himself. Stanford, who has no legal training, says he is invoking his right to represent himself.
Wednesday in Dallas, an auction of some of his most prized possessions brought in just over $2.9 million.
R. Allen Stanford, the Texas financier convicted last year of leading an investment fraud scheme, was ordered to disgorge more than $6.7bn by the judge in a U.S. Securities and Exchange Commission lawsuit.
Investors in Allen Stanford's $7 billion Ponzi scheme, who have recovered nothing in the four years since it blew up, could finally get some money back under a $300 million multi-national settlement in the case.
A federal judge in Dallas has approved a controversial plan to claw back millions of dollars from some investors in Allen Stanford's $7 billion Ponzi scheme.
Allen Stanford, the fallen Texan billionaire and one time king of cricket, has been sentenced to 110 years in jail for defrauding investors of $7bn. He was also ordered to pay back $5.9bn – a symbolic gesture as the fraudster is now penniless.