Ralph S. Janvey, Stanford's receiver, also won a temporary freeze on some Libyan government bank accounts in the U.S. until a federal judge can determine if the money should be distributed to investors allegedly swindled of more than $7 billion, said Janvey's lead attorney, Kevin M. Sadler.
"The payments made to the Libyan defendants were fraudulent transfers, using funds which Stanford obtained by fraud from investors who purchased Stanford's phony CDs even as the Ponzi scheme was beginning to collapse,'' Sadler said by email.
Janvey's suit was filed under seal June 3 in U.S. District Court in Dallas, Sadler said. The lawsuit couldn't be independently confirmed using the court's electronic docket.
Stanford, 61, denies all allegations of wrongdoing. He previously said he met with Libyan sovereign-wealth fund officials shortly before the U.S. Securities and Exchange Commission seized his operations on suspicion of fraud in February 2009.
The Libyans withdrew $12 million of their Stanford investment immediately after this meeting, which occurred in Libya "just three weeks before the SEC filed suit,'' Sadler said in Friday's email.
Janvey obtained a court order on June 6 freezing $55 million in Libyan assets in U.S. bank accounts, pending a December hearing before U.S. District Judge David Godbey, Sadler said. The judge oversees the SEC's case against Stanford and several of his companies.