R. Allen Stanford’s Antiguan- appointed liquidators agreed to stop seeking control of the convicted financier’s assets in a deal that may allow defrauded investors to recover some of the $300 million Stanford stashed in accounts outside the U.S. Receivers appointed by the U.S. and the Antiguan courts have battled for four years to control assets recovered from Stanford’s financial-services empire. Stanford, 62, was convicted last March of leading a $7 billion investment fraud based on bogus certificates of deposit at his Antigua-based bank. He was sentenced to 110 years in prison. “The funds that are the subject of this agreement represent the largest available source of investor money that Allen Stanford had not already spent by the time his Ponzi scheme collapsed,” Kevin Sadler, lead attorney for U.S. receiver Ralph Janvey, said in an e-mail today. “In the absence of this agreement, these funds would remain out of reach of the Stanford victims for years to come.” More on Bloomberg here.
