Stanford Financial Fraud Keeps Attorneys Busy
Securities attorneys representing investors duped in the Stanford investment fraud are getting ready to persuade Ralph Janvey, the U.S. receiver of Allen Stanford's assets, to release frozen assets. Also, the two receivers in the U.S. and Antigua are locking horns over Stanford Financial Group asset control and the man at the center of the scandal seems to have zeroed in on a criminal lawyer to represent him.
Janvey has released a set of procedures that investors, who believe their accounts should not be frozen as part of the freeze on all Stanford assets, can use to prove their money was not tainted by the scandal and should, therefore, be released. The money in question is tied up in funds and amounts to a total of $1.7 billion dollars. 
Investors who wish to see their frozen funds released will have to agree not to sue the group elsewhere and to abide by the court's decisions. Earlier in March, Judge David Godbey released approximately 28,000 of the frozen investor accounts that amounted to over $4 billion. The other investors will have to furnish details about the interest they earned during their investment and what they did with the money. They will also be required to convince Janvey that their funds are clean and should be released.
Meanwhile, the dispute over who exactly controls the Stanford Financial Group's assets in Antigua continues with Janvey and Antigua government appointed receiver, Nigel Hamilton Smith. The receivers continue to play tug-of-war over the assets. Janvey insists his control extends to all Stanford Group assets, including those in Antigua, while Smith claims he is the sole receiver for the assets. The two are expected to meet soon to come to an agreement.
Finally, capping off days of hectic legal activity, Allen Stanford is likely to be represented by a Houston-based criminal attorney. The lawyer, Dick DeGuerin, has not formally been appointed as the billionaire's lawyer because Stanford has no money to retain legal services.
Stanford Financial Fraud
Losing money in an investment scam can be a painful experience with the nightmare seemingly never ending. The process of recovering your money is not an easy one and can it take weeks and even months for legal experts to build a case. It is extremely important to have an experienced securities attorney on your side to represent you and help you through tough times.
If you have lost money in the Stanford Financial Group scam, contact a securities attorney at Arnold & Itkin LLP for a free evaluation of your case.
