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.