Stanford Financial Group victims throughout the world may get electronic access for information and comments, if a U.S. District judge agrees with Texas U.S. Attorney Tim Johnson.
This request comes in advance of a guilty plea by James Davis of Baldwyn, a Stanford executive accused in a $7 billion Ponzi scheme on certificate of deposit purchasers.
“There are tens of thousands of potential victims in this case,” Johnson writes to U.S. District Judge David Hittner in Houston, where Davis made his initial court appearance Monday and is expected to plead guilty to his part in the plot.
Johnson asks Hittner to approve setting up information and comment Web sites through the U.S. Department of Justice and the court-appointed receiver of Stanford assets.
Johnson says this procedure isn’t new for a worldwide criminal investigation. He cites similar setups in cases against New York swindler Bernard Madoff and Enron executives Ken Lay and Jeffrey Skilling.
Monday, Davis appeared before Hittner and pleaded not guilty to three counts, which could send him to prison for 30 years.
Although he’s expected to plead guilty soon in an agreement of cooperation with prosecutors, that may be several weeks away, if Johnson gets his Internet notice sites.
He would like for sites to provide an e-mail address and a phone number, with at least 14 days notice to allow victims to submit comments about Davis’ proposed plea agreement and other developments in the case.
Contact Patsy R. Brumfield at (662) 678-1596 or firstname.lastname@example.org.
Patsy R. Brumfield/NEMS Daily Journal