Stanford Receiver, Investors Sue PGA for $13 Million
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PGA Tour Inc., the organizing body for professional golfers’ U.S. tournaments, was sued by indicted financier R. Allen Stanford’s court-appointed receiver and a group of his investors, seeking to recoup almost $13 million.
Ralph Janvey, the receiver, and the court-sanctioned investors’ committee said in a complaint filed today in federal court in Dallas that the PGA Tour received tainted money generated by an alleged $7 billion fraud scheme led by Stanford.