Court Appointed receiver gets go ahead
Published:Monday | August 3, 2009 | 9:31 AM
A United States federal district judge has given the go-ahead for the court-appointed receiver for Sir Allen Stanford’s assets to sue investors to recover funds.
However, Judge David Godbey ruled that Ralph Janvey could only sue for interests received from the Texas billionaire.
Janvey has been trying to recoup money for creditors.
He is expected to sue investors and stockbrokers to recover as much as US$925,000,000.
It’s believed that the investors profited from the alleged eight billion US dollar Ponzi scheme, involving the Antigua-based Stanford International Bank.