COViSAL   -  For Restitution March 13, 2023   Clerk of the Court United States District Court Northern District of Texas 1100 Commerce Street Dallas, Texas 75242 ATN: Chamber of the Honorable David Godbey Last week, the U.S. Receiver for the Stanford Financial Group (“SFG”) reached an agreement for the ludicrous amount of $1,602 million with five (5) banks, Toronto Dominion Bank, HSBC, Société Générale (Suisse), Trustmark National Bank and Independent Bank accused of being abettors necessary in the execution of the Stanford Ponzi Scheme which fleeced depositors out of $7 billion. This settlement would potentially award attorneys more than $400 million in fees and expenses. When on February 16, 2009,  SFG  was seized by U.S. authorities the lives of thousands of families in the United States, Latin America, and other countries around the world were ruined. They had invested their life savings in a promise of safety under the protective umbrella of th...

  COViSAL   -  For Restitution March 13, 2023   Clerk of the Court United States District Court Northern District of Texas 1100 Commerce Street Dallas, Texas 75242 ATN: Chamber of the Honorable David Godbey Last week, the U.S. Receiver for the Stanford Financial Group (“SFG”) reached an agreement for the ludicrous amount of $1,602 million with five (5) banks, Toronto Dominion Bank, HSBC, Société Générale (Suisse), Trustmark National Bank and Independent Bank accused of being abettors necessary in the execution of the Stanford Ponzi Scheme which fleeced depositors out of $7 billion. This settlement would potentially award attorneys more than $400 million in fees and expenses. When on February 16, 2009, SFG was seized by U.S. authorities the lives of thousands of families in the United States, Latin America, and other countries around the world were ruined. They had invested their life savings in a promise of safety under the protective umbrella of the United States. ...

  Stanford Sentenced to 110-Year Term in $7 Billion Ponzi Case By Clifford Krauss June 14, 2012 HOUSTON — Jaime Escalona was fleeced so thoroughly by the financier R. Allen Stanford that he could no longer pay for his grandson’s autism treatments, he said in a steady voice in court on Thursday, before turning to the defendant and declaring, “You are a dirty, rotten scoundrel.” Mr. Stanford took the insult in stride, and stared right back. Then Angela Shaw Kogutt, who said three generations of her family had lost over $4 million because of Mr. Stanford’s “financial terrorism,” asked all the scores of victims in the federal court gallery to stand before Mr. Stanford to show him their faces of misery. Judge David Hittner of the Federal District Court told Mr. Stanford he was under no obligation to look, but he swiveled his chair toward the victims anyway without a flinch or sign of caring. For Mr. Stanford, his day in court on Thursday — the day he was sentenced to 110 years in prison...

  COViSAL   -  For Restitution COViSAL Blog View this email in your browser Estimados amigos: En este mensaje anexo el link al documento en inglés de la apelación de SIB ante el Tribunal de Apelaciones de Ontario referente a la decisión del Tribunal Superior que favoreció a TD Bank. Más abajo está la traducción al español de dicho documento. English version: http://www.sibliquidation.com/ wp-content/uploads/2021/07/ Notice-of-Appeal-July-8-2021. pdf No perdamos la esperanza. Avancemos fuertes con fe y perseverancia. Saludos, Jaime Jaime R. Escalona On behalf of COViSAL for Restitution https://covisal.blogspot.com/              Twitter: @COViSAL"   Con DIOS, superaremos todos los obstáculos / With GOD, we'll overcome all obstacles La labor de COViSAL es de índole investigativa, informativa y de difusión. NO debe interpretarse como asesoría legal. The nature of the work of COViSAL is research, information, and dissemination....

 

  COViSAL   -  For Restitution COViSAL Blog View this email in your browser Estimados amigos:   Ayer 21 de abril, 2021, los Liquidadores Conjuntos enviaron un comunicado referente a los pagos de la 3ra distribución. Varios de ustedes me enviaron copia preguntando a que se refiere este mensaje. Por tal motivo, hoy le envié un email a Mark McDonald, Liquidador Conjunto del SIB. Anexo copia de la carta que envié en respuesta a su comunicado. Primero, la versión en inglés y segundo, la traducción a español. "Dear Mr. McDonald, Yesterday, April 21, 2021, Stanford’s creditors received an email with a letter from your office announcing the third interim distribution of 1%. The letter says that checks will be sent to the stated delivery address, and that will be issued in 3-4 weeks following this letter. And, that due to distribution complications and geographic locations of creditors, checks might take up to 8 weeks after the date of this letter.   During our conv...

Estimados amigos, Anexo una actualización de las acciones de recuperación más importantes del Síndico del Stanford Financial Group (SFG) en U.S.A. y de los Liquidadores Conjuntos (LCs) del Stanford International Bank, Ltd. (SIBL): 1.    El 16 de octubre, 2020, el Tribunal Federal Suizo ordenó la liberación de $170 millones de dólares congelados en Suiza desde el 2009.  El Departamento de Justicia (DOJ) recibirá los fondos y los repartirá al Síndico de USA y a los LCs conforme a los términos del protocolo transfronterizo firmado por los LCs, U.S. Receiver, Comité Oficial de Inversionistas (OSIC), Securities & Exchange Commission (SEC), y DOJ. o    $117 millones serán asignados al Síndico de USA para su distribución. o    $53 millones serán asignados a los Liquidadores Conjuntos del SIBL para su distribución. Estimo que estos fondos los distribuyan a comienzos del 2021. 2.    Aproximadamente $206 millones de dólares provenientes de acuerdos...