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Posted inFinance, Inequality

Majority of funds recovered in Stanford Ponzi scheme spent by receiver

When 18,000 people got fleeced in Allen Stanford’s $7.2 billion Ponzi scheme, the court appointed a receiver in 2009 to recover as much money as possible from Stanford’s failed companies to return to investors. After four-and-a-half years, the receiver, Ralph Janvey, began mailing checks ranging from $2.81 to $110,000 to hundreds of investors. That amounts […]