Stanford customers may need an investment fraud lawyer
Have you been impacted by alleged Stanford Financial Group investment fraud? If so, call an investment fraud lawyer for a FREE consultation at 1-800-505-1414, or fill out our FREE case evaluation form.
Serving clients since 1973, the established Texas law firm of Jim S. Adler & Associates understands the enormity of the financial setbacks faced by thousands of Stanford investors since the Securities and Exchange Commission alleged a potential $8 billion in investment fraud
. In filing its civil fraud complaint against Stanford Feb. 17 in Dallas, the SEC alleged a massive "Ponzi" scheme in which Stanford used money from new investors to pay returns to older investors.
Stanford assets are still frozen - Investment Fraud Attorney
A judge in Dallas has placed a receiver -- Dallas lawyer Ralph Janvey -- in charge of Stanford Financial Group, and also has frozen its assets. Meanwhile, Stanford head Robert Allen Stanford, a native of Mexia, Texas, and a graduate of Baylor University, has not been charged with investment fraud. But the SEC asserts that Stanford and his college roommate, James Davis, have misappropriated $1.6 billion of investors' funds- committing investment fraud.
Stanford Financial Group reportedly has 35,000 customers. Most of them don't know when -- or if -- they'll be able to reclaim the money they invested there. Stanford's international network of financial and banking companies has headquarters in the Houston Galleria area and has investors across the globe.
An investment fraud lawyer can help
Janvey says that by March 16 he hopes to propose to U.S. District Judge David C. Godbey that accounts of less than $100,000 being held by Stanford's clearing firms be released. Even if this happens, many of Stanford's investors and its 3,000 employees in Houston and elsewhere still may not have access to their funds or paychecks.
Janvey says his review of the situation reveals that, while some Stanford assets remain, they are far below the amount that Stanford owes. Janvey believes hundreds of millions of dollars may be recovered, but not the billions of dollars involved in this investment fraud.
If you or a family member has been affected by this investment fraud, notify an investment fraud lawyer
with Jim S. Adler & Associates to explore your legal options.
Jim S. Adler & Associates is licensed in Texas but not licensed in other states, including these:
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