A Texas businessman scheduled to stand trial in January 2012 to face charges he orchestrated a $7 billion Ponzi scheme is not competent to stand trial, according to his attorney. Disgraced financier R. Allen Stanford, 61, has remained in federal custody... Read More
The man convicted of running the second-largest Ponzi scheme in history has filed a 299-page appeal in a last ditch effort to reduce or reverse his 110-year sentence. R. Allen Stanford filed his appeal last month with the U.S. Court of Appeals for the... Read More
A federal appeals court affirmed that victims of Allen Stanford's massive $7 billion Ponzi scheme - the second largest scheme in history behind only Bernard Madoff's scheme - are not "customers" of Stanford's American-based bank... Read More
The Receiver tasked with marshaling and distributing assets to victims of R. Allen Stanford's alleged $7 billion Ponzi scheme has filed papers asking a U.S. judge to approve a proposed plan to review and pay claims by victims. In a filing in the... Read More
HOUSTON - (Mealey's) Two days after finding Texas financier R. Allen Stanford guilty on 13 criminal charges relating to his operation of a massive Ponzi scheme, a federal jury in Texas on Mar. 8 returned a special verdict finding that Stanford... Read More
The trial of disgraced financier R. Allen Stanford is set to begin Jan. 23 as prosecutors claim the once-billionaire swindled investors out of more than $7 billion in one of the largest Ponzi schemes in history. Delayed by over a year as questions... Read More
A federal appeals court has ordered The Golf Channel to repay nearly $6 million it received as payment for TV advertisement services from convicted Ponzi schemer Allen Stanford, finding that the advertisement services provided no value to Stanford's... Read More
A national accounting firm and two law firms will pay $45 million in separate settlements over claims that they knowingly participated and assisted in the massive $7 billion Ponzi scheme perpetrated by Allen Stanford. The settlements mark a much-needed... Read More
"He wants to con his way out of this case the same way he conned investors for more than 20 years...Don't let him do it." - Assistant U.S. Attorney Gregg Costa A Houston federal judge ruled that R. Allen Stanford, accused of masterminding... Read More