Stanford Receiver Sues the Miami Heat

     DALLAS (CN) – The receiver for Allen Stanford’s $7 billion Ponzi scheme says the Miami Heat basketball team got $1.3 million from Stanford, and the receiver wants it back. The federal complaint claims Stanford’s payments for sponsorship, advertising and promotions were fraudulent transfers.

     Court-appointed receiver Ralph Janvey, a Dallas-based attorney, also sued the University of Miami and professional golfer David Toms this month, seeking the return of millions of dollars. The complaints do not allege that the defendants knew of Stanford’s Ponzi scheme, only that they profited from it.
     Stanford is awaiting trial in Houston Federal Court, charged with running a giant scam involving fraudulent certificates of deposit. His trial was scheduled to begin on Monday but was postponed so Stanford’s mental competency could be evaluated.

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