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Sunday, June 16, 2024 | Back issues
Courthouse News Service Courthouse News Service

Stanford Ponzi Scam

The First Circuit reversed a ruling that let Gary D. Magness and others keep $79 million in fraudulent transfers received while on notice that Stanford International Bank was running a Ponzi scheme that cost investors $7 billion.

DALLAS — The Fifth Circuit reversed a ruling that let Gary D. Magness and others keep $79 million in fraudulent transfers received while on notice that Stanford International Bank was running a Ponzi scheme that cost investors $7 billion.

Categories / Appeals, Financial

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