Stanford slapped by judge
Accused Ponzi swindler R. Allen Stanford was denied access to a $90 million insurance pot set up to pay legal expenses for executives at his fallen Stanford Financial Group.
Stanford, accused in a $7 billion investment scam, failed in a London court to tap into a directors-and-officers insurance policy at Lloyd’s of London.
US District Court Judge David Godbey, who has frozen Stanford’s assets, ordered Stanford’s London lawyers to withdraw their case for the insurance money because the policy may have been purchased with ill-gotten proceeds.
Stanford and others have received court-appointed lawyers, who are being paid less than market rates by Uncle Sam to handle the complex case spread over 10 nations.
Comments
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy

