Stanford Co-Conspirators Get 20 Years

Feb 19 2013 | 9:01am ET

Two former top executives at R. Allen Stanford's fraudulent financial empire received long terms in prison last week for their role in the $7 billion Ponzi scheme.

Gilbert Lopez and Mark Kuhrt were each sentenced to 20 years in prison. The two, the last defendants in the Stanford case to be sentenced, were convicted of wire fraud and conspiracy in November.

The sentences for Lopez, Stanford Financial Group's former chief accounting officer, and Kuhrt, its former controller, were the longest levied in the case except against Stanford himself, who was sentenced to 110 years in prison. Former chief investment officer Laura Pendergast-Holt received three years and former CFO James Davis five years. Both cooperated with the authorities in the case.

Prosecutors accused Lopez and Kuhrt of knowing that Stanford was misappropriating his bank's assets and helping him cover it up.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note