Attorney files for release of client accounts
Published:Thursday | March 5, 2009 | 6:09 PM
The court-appointed receiver in charge of the operations and assets of the Stanford Financial Group has asked a federal judge to release some client brokerage accounts.
The motion was filed in a US District Court in Dallas late yesterday.
The receiver, Ralph Janvey wants the court to free up accounts that contain $250,000 or less.
He also requested that the order take effect March 9.
The US Securities and Exchange Commission has accused Texan billionaire Allen Stanford, two top aides and three of his companies, of a long-running $8 billion securities fraud.
It is claimed they used high-yield certificates of deposit issued by a Stanford bank in Antigua.