Time is running out for Stanford investors.
Those who have not already filed a claim must consult their attorney without delay or the attorney hired by the Stanford International Investors. Dr Gaytri Kachroo of Kachroo Legal Services is experienced in submitting FTCA claims, having already done so for many Madoff investors. Contact: info@kachroolegal.com
From their experience of dealing with the Madoff investors claims, KLS have asked that Stanford International investors must make contact by JANUARY 15th to be certain there is sufficient time to process and submit their claims.
Stanford investors must file administrative claims under the Federal Tort Claims Act against the Securities and Exchange Commission before the deadline of 16th February 2011, after which claims are barred forever under the statute of limitations.
If you leave it until later, you run the risk of being too late.
Showing posts with label Stanford Victims Coalition. Show all posts
Showing posts with label Stanford Victims Coalition. Show all posts
Wednesday, 12 January 2011
STANFORD INVESTORS FACE DILEMMA
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, face a dilemma.
The various investor groups appear to have been split, deciding whether to pin their hopes of recovery on the political efforts of the Stanford Victims Coalition, who have been lobbying for SIPC coverage, eligible only to investors of the registered broker-dealer, Stanford Group Company, comprising mostly domestic US investors. After almost two years, there are still few signs of any successful resolution.
The other groups, headed by the Stanford International investors, have engaged an attorney to submit administrative claims under the Federal Tort Claims Act against the SEC, for their negligence in failing to act against Stanford sooner, despite knowing for 13 years, it was likely a Ponzi scheme. They claim the action against the SEC will not prejudice any SIPC recovery efforts, and is open to all the Stanford investors, irrespective of nationality.
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.
Any Stanford investors who have not yet decided which is best for them, 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 are already experienced in submitted claims on behalf of the Madoff investors.
The various investor groups appear to have been split, deciding whether to pin their hopes of recovery on the political efforts of the Stanford Victims Coalition, who have been lobbying for SIPC coverage, eligible only to investors of the registered broker-dealer, Stanford Group Company, comprising mostly domestic US investors. After almost two years, there are still few signs of any successful resolution.
The other groups, headed by the Stanford International investors, have engaged an attorney to submit administrative claims under the Federal Tort Claims Act against the SEC, for their negligence in failing to act against Stanford sooner, despite knowing for 13 years, it was likely a Ponzi scheme. They claim the action against the SEC will not prejudice any SIPC recovery efforts, and is open to all the Stanford investors, irrespective of nationality.
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.
Any Stanford investors who have not yet decided which is best for them, 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 are already experienced in submitted claims on behalf of the Madoff investors.
Tuesday, 16 March 2010
US considers resolution to block aid to Antigua-Barbuda
The Stanford Victims Coalition announced Monday a second United States Congressional Resolution asking the US Secretary of the Treasury to direct the IMF and the World Bank to block funding to the government of Antigua and Barbuda. The Resolution, introduced in the US House of Representatives by Congressman Mike Coffman of Colorado, also demands Antigua release to the US.
Receiver overseeing the liquidation of the Stanford estate the 49 properties it has taken actions to expropriate, and repay the loans made by Allen Stanford or any Stanford entity as well as "payments made to officials of the government of Antigua and Barbuda for the purpose of subverting regulatory oversight."
The Resolution has been referred to the powerful US House of Representatives Financial Services Committee for a vote. This action comes on the heels of a similar Senate Resolution sponsored by eight US Senators in December 2009, which is now pending a vote by the Senate Foreign Relations Committee.
The Stanford Victims Coalition, an advocacy group representing the 28,000 victims of the Stanford Financial Group fraud, recently launched its “Anti-Crime, Anti-Antigua” campaign which calls on travel professionals, prospective tourists, and investors from around the world to boycott Antiguan hotels and resorts, cruises to Antigua, investments in Antiguan financial institutions or in companies or ventures based in Antigua. The “Anti-Antigua” campaign also encompasses a comprehensive lobbyist component focused on efforts to block foreign aid and trade with Antigua, according to the SVC.
“When Antigua is ready to make things right and release the assets that were purchased with Stanford victims’ investments, the SVC will stop its efforts to expose Antigua for its corrupt actions,” said Angela Shaw, Executive Director and Founder of the Stanford Victims Coalition, which represents 28,000 defrauded Stanford International Bank-Antigua depositors. “When the crime stops, so will we. Until then, we will pursue every effort we possibly can to warn potential tourists, developers and investors about the dangers of Antigua.”
“This is a very serious matter and in over a year since the Stanford fraud was exposed, the government of Antigua and Barbuda has not publicly acknowledged Stanford investors or shown any level of sympathy or remorse - or worse - its intention to address the devastation this crime has inflicted on innocent people from around the world,” Shaw said. “Prime Minister Spencer has had a chance to show the world Antigua finally knows right from wrong, yet not unlike the previous regime, its actions thus far do not lead anyone to believe the current administration is any different. It’s just business as usual in Antigua.”
Receiver overseeing the liquidation of the Stanford estate the 49 properties it has taken actions to expropriate, and repay the loans made by Allen Stanford or any Stanford entity as well as "payments made to officials of the government of Antigua and Barbuda for the purpose of subverting regulatory oversight."
The Resolution has been referred to the powerful US House of Representatives Financial Services Committee for a vote. This action comes on the heels of a similar Senate Resolution sponsored by eight US Senators in December 2009, which is now pending a vote by the Senate Foreign Relations Committee.
The Stanford Victims Coalition, an advocacy group representing the 28,000 victims of the Stanford Financial Group fraud, recently launched its “Anti-Crime, Anti-Antigua” campaign which calls on travel professionals, prospective tourists, and investors from around the world to boycott Antiguan hotels and resorts, cruises to Antigua, investments in Antiguan financial institutions or in companies or ventures based in Antigua. The “Anti-Antigua” campaign also encompasses a comprehensive lobbyist component focused on efforts to block foreign aid and trade with Antigua, according to the SVC.
“When Antigua is ready to make things right and release the assets that were purchased with Stanford victims’ investments, the SVC will stop its efforts to expose Antigua for its corrupt actions,” said Angela Shaw, Executive Director and Founder of the Stanford Victims Coalition, which represents 28,000 defrauded Stanford International Bank-Antigua depositors. “When the crime stops, so will we. Until then, we will pursue every effort we possibly can to warn potential tourists, developers and investors about the dangers of Antigua.”
“This is a very serious matter and in over a year since the Stanford fraud was exposed, the government of Antigua and Barbuda has not publicly acknowledged Stanford investors or shown any level of sympathy or remorse - or worse - its intention to address the devastation this crime has inflicted on innocent people from around the world,” Shaw said. “Prime Minister Spencer has had a chance to show the world Antigua finally knows right from wrong, yet not unlike the previous regime, its actions thus far do not lead anyone to believe the current administration is any different. It’s just business as usual in Antigua.”