UPDATE: Stanford receiver says he's got a little for jilted investors

DALLAS, Texas — Court-appointed receiver Ralph Janvey, the lawyer charged with tracking down money lost in what authorities call R. Allen Stanford’s Ponzi scheme, says he hopes to gain control of more than $1.5 billion to return to investors.

Janvey filed a report in Dallas federal court in Dallas, outlining his plan to go after $1.5 billion. That would give allegedly defrauded investors a return of 20 cents on the dollar.

Janvey has about $71 million in cash on hand and is pursuing the rest through lawsuits and other means.

Read Friday’s Daily Journal for more details.

NEMS Daily Journal