Monday, July 21, 2014

Court refuses claims by Stanford Ponzi scheme victims

Posted By on Mon, Jul 21, 2014 at 2:14 PM

A U.S. Appeals Court has affirmed a lower court ruling that investors in Allen Stanford's fraudulent Ponzi scheme were not entitled under law to seek compensation from the Securities Investors Protection Corp.

Stanford is serving a prison term for defrauding millions through bogus certificates of deposit issued through an institution in Antigua.

Arkansas investors lost millions in the scheme, though the precise numbers have never been revealed. Arkansas Business tallied some of the local losses in this article.

The Securities and Exchange Commission has been attempting to get compensation for victims.


Tags: , ,

Favorite

Speaking of...

Comments

Subscribe to this thread:

Add a comment

More by Max Brantley

  • The debate eve open line

    The Sunday open lines includes some rumination, not happy, about tomorrow night's presidential debate.
    • Sep 25, 2016
  • Ethics Commission begins investigation of Rep. Mike Holcomb

    The state Ethics Commission last week informed a complainant she'd raised sufficient questions about campaign finance filings by Republican Rep. Mike Holcomb to initiate an investigation.
    • Sep 25, 2016
  • Drug companies fight medical marijuana

    Disclosure about financing of the anti-medical marijuana campaign in Arkansas is so far lacking, but it's no secret what's happened in other states — pharmaceutical companies have worked to defeat medical marijuana laws because they create (safer) competition.
    • Sep 25, 2016
  • More »

Readers also liked…

  • Foster family disputes key statements from Justin Harris

    Craig and Cheryl Hart were the foster parents of the two sisters who were adopted by Rep. Justin Harris and his wife Marsha and later "rehomed." The Harts say that the adoption was allowed to proceed over the objections of the foster parents and local DHS staff due to pressure exerted by Cecile Blucker, head of the Division of Children and Family Services, on behalf of Justin Harris.
    • Mar 7, 2015
  • War. What is it good for? Tom Cotton has an idea

    Twenty-four hours after meddling in President Obama's talks with Iran, hawkish Sen. Tom Cotton scheduled an off-the-record meeting with defense contractors, who'd be happy to supply goods for U.S. armed incursions in the Middle East.
    • Mar 9, 2015
  • Tom Cotton's 'bizarre speech' on Guantanamo

    Lots of attention on the web today about remarks by n by U.S. Sen. Tom Cotton. Vox called his remarks on preserving a detention center in Guantanamo Bay " bizarre."
    • Feb 5, 2015

Most Shared

  • Who's harming women?

    Attorney General Leslie Rutledge is an Arkansas Republican. Thus, like the governor and the Republican-majority legislature, she intends to do everything she can to deny women comprehensive medical care, particularly abortion.
  • New normal

    No two presidential candidates since polling began have run up negatives as massive as those of Donald Trump and Hillary Clinton, who yet won their parties' nominations easily. "What gives?" may be the biggest political mystery in history.
  • Additional rape charges filed against Conway doctor

    Special Prosecutor Jason Barrett has added 11 more victims to two others alleging rape by Dr. Robert Rook of Conway.
  • Big Dam Bridge 100 brings big damn complaint about celebrity rider Hincapie

    The Big Dam Bridge 100 is this weekend and one dedicated biker isn't happy about a celebrity rider, admitted doper George Hincapie.

Most Viewed

  • The debate eve open line

    The Sunday open lines includes some rumination, not happy, about tomorrow night's presidential debate.
  • Drug companies fight medical marijuana

    Disclosure about financing of the anti-medical marijuana campaign in Arkansas is so far lacking, but it's no secret what's happened in other states — pharmaceutical companies have worked to defeat medical marijuana laws because they create (safer) competition.

Most Recent Comments

  • Re: The debate eve open line

    • RC, the quote was from "2010: The Year We Make Contact" but that's neither here…

    • on September 26, 2016
  • Re: The boys on the tracks are back

    • I Basically think we all don't have to face all these deceit and lies from…

    • on September 25, 2016
  • Re: The debate eve open line

    • Olphart - i miss PanAm. I had a reservation for the PanAm moon shuttle from…

    • on September 25, 2016

Blogroll

 

© 2016 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation