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