A federal judge said Thursday he will try to rule this month on whether to put jailed Texas financier R. Allen Stanford's businesses under bankruptcy protection. Stanford's empire was placed in the hands of a court-appointed attorney last year when he was charged with running a $7 billion Ponzi scheme. Now some of the allegedly jilted investors are asking a judge to turn the case over to a bankruptcy court, arguing their rights are better served through U.S. law than the decisions of a receiver.
February 12, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal judge said Thursday he will try to rule this month on whether to put jailed Texas financier R. Allen Stanford’s businesses under bankruptcy protection.
Stanford’s vast financial empire was placed in the hands of a court-appointed attorney last year when the Securities and Exchange Commission sued Stanford on charges that he was running a $7 billion Ponzi scheme.
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