Aug 5 2011 | 10:38am ET
The liquidator of accused Ponzi schemer R. Allen Stanford's bank has won the release of US$20 million in assets frozen in the U.K.
Grant Thornton will have access to US$5 million of the money immediately. The firm will use the proceeds to continue its efforts to recover other assets for the victims of Stanford's US$7 billion fraud, particularly via lawsuits against Stanford's banks, advisers and investors.
There is another US$80 million or so of Stanford International Bank's assets in the U.K., primarily in hedge funds.
Stanford is set to go on trial early next year. He has denied the charges against him.
Jan 30 2018 | 9:49pm ET
As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...
May 24 2017 | 9:25pm ET
Starting in 2019, financial industry executives sitting for the coveted Chartered...
Feb 14 2018 | 9:57pm ET
Tasked with delivering returns on client capital, a common dilemma for many alternative...