The complaint is filed in U.S. District Court for the Northern District of Texas in Dallas.
'$7 billion Ponzi scheme'
The complaint's allegations center around the actions of Carlos Loumiet, a former partner in Greenberg and later in Hunton, who allegedly served as the "outside general counsel" to the Texas-based Stanford Financial Group for more than 20 years.
Loumiet is not named as a defendant in the case. The complaint alleges that he provided "the architectural structure for Stanford to pull off his $7 billion Ponzi scheme." Among other things, the complaint alleges that Loumiet, along with Suarez, enabled "Stanford Financial to effectively operate free of government regulations and oversight and completely outside the law."
"In short, Loumiet's and Suarez's fingerprints are all over the Stanford Ponzi scheme from beginning to end," the petition alleges.
Loumiet, who is now a partner in the Miami office of DLA Piper, did not immediately return a call seeking comment. In a prepared statement, Loumiet declines to specifically address the allegations in the complaint. "However, I can say that:
(1) I have never in my long career knowingly helped any client commit any wrongdoing,
(2) I have never represented anyone that I knew was engaged in wrongdoing, and
(3) after years of investigations by the federal government and months of trials involving Allen Stanford and his co-defendants, I have not been implicated in any wrongdoing," Loumiet says in his statement.
The complaint also alleges that Greenberg knew Stanford was violating U.S. securities law and assisted Stanford to consolidate his influence over Antiguan officials, where Stanford based his banking operations, among other things.
It alleges that Hunton also knew that Stanford was evading U.S. regulation and also assisted in quashing political dissent in Antigua, among other things.
