Stanford customers need investment fraud lawyers
Have you or any family members been impacted by alleged Stanford Financial Group investment fraud? If that is the case, an investment fraud lawyer with Jim S. Adler & Associates can press your case. Submit a free case evaluation form online and launch the process of gaining your financial recovery.
Serving clients with their personal injury legal needs 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 remain frozen
A judge in Dallas has placed Dallas lawyer Ralph Janvey as a receiver 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. Meanwhile, the SEC asserts that Stanford and his roommate from college, James Davis, have misappropriated $1.6 billion of investors’ funds. Stanford Financial Group has a reported 35,000 customers. Most 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 Houston 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 lack access to their funds or paychecks. Janvey reports that 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 owed by Stanford. If you or a loved one has been affected by this financial calamity, notify an investment fraud lawyer with Jim S. Adler & Associates to explore your legal options.