Stanford U.S. Receiver Has Deal With Antigua Counterpart
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R. Allen Stanford’s Antiguan-appointed liquidators agreed to stop seeking control of the convicted financier’s assets in a deal that may allow defrauded investors to recover some of the $300 million Stanford stashed in accounts outside the U.S.
Receivers appointed by the U.S. and the Antiguan courts have battled for four years to control assets recovered from Stanford’s financial-services empire. Stanford, 62, was convicted last March of leading a $7 billion investment fraud based on bogus certificates of deposit at his Antigua-based bank. He was sentenced to 110 years in prison.