UPDATE: Stanford's daughter agrees to vacate Houston condo

By Patsy Brumfield/Daily Journal

HOUSTON, Texas – Failed financier R. Allen Stanford’s daughter, Randi, has agreed to move out of a Houston condominium, ending a dispute with a receiver in charge of assets that previously were part of her father’s fallen financial empire.

The receiver will sell the property in his efforts to recover money for investors whom prosecutors and regulators allege were victims of fraud by Allen Stanford and others.

According to the Houston Chronicle, here’s what receiver Ralph Janvey said today:

“Following the filing of a declaration of a forensic accountant with regard to the underlying facts concerning the purchase of the condo, counsel for the Receiver and counsel for Ms. Stanford conferred and it was agreed that Ms. Stanford would move out of the condo by March 31, 2010, and the Receiver will proceed to market and sell that property in accordance with the Order regarding real estate sales.”

Stanford and three other executives of Stanford Financial Group – including Laura Pendergest-Holt of Baldwyn – face federal criminal trial on charges they played a part in an alleged $7.2 billion Ponzi scheme on Stanford CD investors.

Stanford had a Tupelo office, which closed soon after the financial empire began to crumble early in 2009 under a Securities & Exchange Commission investigation. The criminal charges came in June.

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