The deadline for FTCA claims by investors of the failed Stanford Financial Group against the US Securities and Exchange Commission is now just 31 days.
Investors in the failed Stanford International Bank, a part of the Stanford Financial Group, in receivership since the arrest of Allen Stanford, who is currently in detention in Houston awaiting trial on fraud charges, have just 31 days left to submit administrative claims under the Federal Tort Claims Act against the US Securities and Exchange Commission for their negligence in not acting against Allen Stanford sooner, despite knowing for 13 years it was likely he was operating a Ponzi scheme.
The deadline for claims is fast approaching. Unless claims are submitted correctly and timely before the two year Statute of Limitations expires next month on the 16th February 2011, Stanford investors will be denied any recovery from the US government, forever.
The Stanford International investors have engaged an attorney to submit FTCA claims against the SEC. This action against the SEC will not prejudice any SIPC recovery efforts, and is open to all the Stanford investors, irrespective of nationality, or place of abode.
Any Stanford investors who have not yet decided, should contact their attorney at their earliest opportunity, or the attorney submitting the FTCA claims on behalf the Stanford International investors: Kachroo Legal Services of Cambridge, Mass: info@kachroolegal.com who already have experience of submitting claims on behalf of the Madoff investors.
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