Categories

U.S. SEC will not appeal ruling against Stanford’s Ponzi victims

The U.S. Securities and Exchange Commission will not appeal a recent court decision that thousands of victims of financier Allen Stanford’s Ponzi scheme were ineligible under federal law to file claims to recoup their losses, a SEC spokesman said on Friday. On July 18, a federal appeals court in Washington rejected the SEC’s bid to force the Securities Investor Protection Corp to start paying an estimated 7,800 former customers of Stanford Group Co. More on Reuters here.

Share This Page:
  • email
  • Facebook
  • Twitter
  • LinkedIn