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Thursday, 10 March 2016

New York law firms win Stanford fraud appeal, dismissal of lawsuit

Two big New York law firms that represented the now-imprisoned financier Allen Stanford persuaded a federal appeals court on Thursday to throw out a lawsuit claiming that they helped conceal his $7.2 billion Ponzi scheme.

Reversing a lower court ruling, the 5th U.S. Circuit Court of Appeals in New Orleans said Chadbourne & Parke and Proskauer Rose were immune from liability for losses that 18,000 former Stanford investors blamed in part on Thomas Sjoblom, a lawyer who had represented the financier and worked at both firms................................

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For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum

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