Receiver in Stanford Case to Defend $27 Million in Legal Fees
The sums which investors were allegedly defrauded of in the matter of Sir Robert Allen Stanford aren't the only jaw-dropping amounts involved in the case. As reported by the Associated Press, a hearing is being held today in the U.S. District Court for the Southern District of Texas concerning the $27 million in legal fees claimed by the receiver appointed by the Court to manage Stanford's companies. The receiver, attorney Ralph Janvey of Krage & Janvey, L.L.L.P. in Dallas, Texas, is claiming the legal fees for hundreds of attorneys and consultants his firm had to hire in an effort to trace the alleged billions of dollars Stanford and his network of companies allegedly defrauded investors of. Mr. Janvey, a former Assistant Director of Securities for the United States Comptoller of the Currency, has served as a court-appointed equity receiver for the Securities and Exchange Commission on previous occasions.
