Stanford Financial Group

Type: Company
Name: Stanford Financial Group
First reported Jul 22 2014 - Updated Jul 22 2014 - 1 reports

Video: SFG Scam Victims Dealt Another Blow

COLUMBUS, Miss. (WCBI) — Victims of the $7 billion Stanford Financial Group investment scam lose another fight in their 5-year effort to get some small part of their money back.A federal appeals court judge has ruled the victims aren’t covered by the ... [Published WCBI - Jul 22 2014]
First reported Jul 19 2014 - Updated Jul 19 2014 - 1 reports

Appeals court rules Stanford Financial victims can’t get compensation

.Stanford Financial Group victims who lost more than  $7 billion in a fraudulent investment scheme cannot get compensation from a financial services corporation created to compensate victims of financial fraud.An appeals court judge in Washington, D.C. ... [Published DJournal.com - Jul 19 2014]
First reported Jul 18 2014 - Updated Jul 19 2014 - 1 reports

Updated Court denies payout to Ponzi scheme victims

The panel said it is "truly sympathetic" to the plight of the Stanford investors who are "searching desperately for relief," but said the law sides with SIPC.The head of the Stanford Victims Coalition said the group is "obviously disappointed" in the ... [Published CNBC - Jul 18 2014]
First reported Jul 12 2014 - Updated Jul 12 2014 - 1 reports

COCHRAN: INVESTOR PROTECTION AGENCY COMPOUNDS STANFORD VICTIMS' LOSSES

WASHINGTON - Expressing frustration that Mississippians have been unable to recover any of the nearly $65 million they lost in the Stanford Ponzi scheme, U.S. Senator Thad Cochran (R-Miss.) has asked President Obama to help remake the federal agency created ... [Published Noodls - Jul 12 2014]
First reported Jun 27 2014 - Updated Jun 27 2014 - 1 reports

Three Billionaires Who Went Under

Billionaires declare bankruptcy for several different reasons. Many of them are self-made entrepreneurs who accumulate their wealth over a short period of time, and then make poor decisions when it comes to saving and investments. Some billionaires are ... [Published Bidness Etc - Jun 27 2014]

Quotes

In a statement, SIPC President Stephen Harbeck lauded the decision, but added, "I want to underscore that SIPC has the deepest sympathy for the victims of the Stanford Antigua bank fraud, which caused them significant harm."
It goes on to state, "If there is one common theme linking Stanford and the investors in the Bernie Madoff PonziPonzi scheme, it's the way SIPC fought investors every step of the way and has absolutely refused to protect the victims of fraud. For more than five years, the Stanford victims have been fighting just to have their day in court, and SIPC has stood in the way. Unfortunately, SIPC - the very entity that was created to protect these investors - has engaged in years of protracted litigation against the SEC in order to avoid a review of individual investor's claims in the District Court for the Northern District of Texas that has already invalidated SIPC's arguments against protecting Stanford victims."

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Video: SFG Scam Victims Dealt Another Blow [Published WCBI - Jul 22 2014]
Appeals court rules Stanford Financial victims ... [Published DJournal.com - Jul 19 2014]
Updated Court denies payout to Ponzi scheme vic... [Published CNBC - Jul 18 2014]
COCHRAN: INVESTOR PROTECTION AGENCY COMPOUNDS S... [Published Noodls - Jul 12 2014]
Three Billionaires Who Went Under [Published Bidness Etc - Jun 27 2014]
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