The Federal Judge ordered Allen Stanford's $ 7.2 billion Pongecheme to end the litigation of the Securities and Exchange Commission 16 years ago, paying the amount that is rarely collected to investors and two former colleagues. I instructed me.
On Wednesday, David Godby's judge of the Dallas Federal Court has been convicted of about 18,000 investors in 2012, and has been sentenced to 5.9 billion in Stanford, who has been sentenced to 110 years. I imposed a civil fine.
Godbay ordered Stanford Financial Group's former Former Financial Officer James Davis to pay $ 17.66 million, including a fine of $ 5 million, and his former highest account, Gilbert Lopez, is the role of fraud. I ordered to pay $ 3.42 million.
The authorities say that Stanford sells illegally high -yield deposit certificates through the Stanford International Bank, based in his antigoa, and makes dangerous investments with investors' money. He said he had funded his lifestyle.
The judge is also a variety of Stanford businesses, which were satisfied by Ralph Janvey, a recipient appointed by more than $ 2.5 billion of fraud victims, including $ 1.2 billion from Toronto Dominnion Bank. We regarded $ billions of debt.
GODBEY said that there was no reason to delay when the payment was made and the case was closed.
When he was considered a billionaire, Stanford was declared in 2010 that he was poor. Currently, in 1974, he is not eligible to be released from prison until 2103.
Davis and Lopez lawyers did not respond immediately to the comment request. SEC's spokesman refused to comment.
Davis was a government top witness in Stanford's trial, testified to his former university roommate and was sentenced to five years in 2013. Lopez was sentenced to prison in 2013 separately.
SEC appealed to Stanford in February 2009 and was criminally accused by the late scammer Bernard Madov, which was committed to running a much larger Ponjuskem.
