U.S. District Judge David Godbey has started his first “clawback” trial in which a receiver is attempting to recover millions taken in R. Allen Stanford’s Ponzi scheme. And he’s allowing another suit to go forward against Greenberg Traurig and Hunton & Williams—in which investors allege the large firms assisted in the convicted Houston financier’s misdeeds.
Godbey began testimony in Janvey v. Romero on Feb. 9, a case in which receiver Ralph S. Janvey is attempting to recover more than $560,000 that Stanford paid to Peter Romero, a former U.S. ambassador, for consulting work allegedly with Ponzi money.
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