Convicted Ponzi schemer R. Allen Stanford owes $6.76 billion to the
Securities and Exchange Commission, a federal judge ruled, finding the
criminal trial had been fair.
In granting the SEC partial summary judgment Thursday, U.S. District Judge David Godbey awarded the agency $5.9 billion in disgorgement and civil penalties, plus more than $861 million in interest.
Godbey also ordered a permanent injunction against Stanford, Antigua-based Stanford International Bank, SIB CFO James Davis, and Houston-based broker-dealer/investment adviser Stanford Group Co., prohibiting them from committing future violations of federal securities laws.
Read more: http://www.courthousenews.com/2013/04/30/57184.htm
In granting the SEC partial summary judgment Thursday, U.S. District Judge David Godbey awarded the agency $5.9 billion in disgorgement and civil penalties, plus more than $861 million in interest.
Godbey also ordered a permanent injunction against Stanford, Antigua-based Stanford International Bank, SIB CFO James Davis, and Houston-based broker-dealer/investment adviser Stanford Group Co., prohibiting them from committing future violations of federal securities laws.
Read more: http://www.courthousenews.com/2013/04/30/57184.htm
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