Stanford assets to remain frozen

A United States federal appeals court has ruled that the assets of Texas financier Sir Allen Stanford should remain frozen while it determines whether to include others in paying back victims of the alleged US$7 billion Ponzi scheme.



Ralph Janvey, the court-appointed receiver for Stanford’s assets, had asked the court to freeze the assets while he determines how much funds owned by Sir Allen could be used to pay back investors.



The Fifth US Circuit Court of Appeals has set November 2 as the tentative date for hearing the case.