Allen Stanford's Girlfriend Stoelker Sued by Receiver for Wages, Payments

Stanford's girlfriend, Andrea M. Stoelker, was sued by the indicted financier’s court- appointed receiver for $560,000 that she received in wages and other payments from the Stanford Financial Group of companies.

Stoelker’s services, including her work on Stanford’s Caribbean cricket subsidiary, were of no value to creditors, said Kevin Sadler, lead attorney for Stanford receiver Ralph Janvey, in papers filed today in federal court in Dallas.

“Any services performed by Stoelker were designed to further the operations of the Ponzi scheme and may well have assisted Stanford in attracting new victim investors,’’ Sadler said in the filing.

Stoelker, who is identified by Sadler as Stanford’s “girlfriend and/or fiancée,’’ said in her own court filings that she often accompanied Stanford on international business trips and Las Vegas vacations. She also sought, and was denied, the return of her personal belongings taken from Stanford’s yacht when his assets were frozen by court order and turned over to Janvey in February 2009.

Stanford is in federal prison in Houston awaiting a January trial on charges that he swindled investors of more than $7 billion through allegedly bogus certificates of deposit issued by Antigua-based Stanford International Bank Ltd.

Mansions, Jets, Yachts

Stanford faces parallel civil fraud allegations from the U.S. Securities and Exchange Commission, which claims he skimmed more than $1 billion in investor funds to finance a lavish lifestyle that included multiple mansions, a fleet of jets, two yachts and a private island. Stanford has denied wrongdoing.

Stoelker was “unjustly enriched’’ while serving as president of both Stanford Financial Group Global Management LLC and Stanford 20/20, according to the lawsuit. The 20/20 organization promoted a faster version of cricket, which the financier hoped would attract a wider following to the sport. Stoelker received at least $140,000 from the cricket unit and another $180,000 from Stanford personally, Janvey claims.

Stoelker previously attended many of Stanford’s court appearances. She was refused court permission to visit Stanford in prison.

The case is Janvey v. Stoelker, 3:10-cv-01272, U.S. District Court, Northern District of Texas (Dallas).