Texas billionaire Allen Stanford’s St. Croix office closed by Dallas appointed receiver.
Dallas, TX (JusticeNewsFlash.com)–Allen Stanford’s, the missing Texas billionaire and president of Stanford Caribbean Investments and Stanford Financial Group Global Management, Christiansted, U.S. Virgin Island office on King Street was shuttered closed on Tuesday as reported by Reuters. Telephone calls to both St. Croix offices including the location on Hill Street went unanswered and the New York office personnel directed all calls to the U.S. Securities and Exchange Commission (SEC) www.sec.gov.
Lawyers for the SEC filed civil charges in the U.S. District Court in Dallas, Texas last week claiming Stanford orchestrated an $8 billion certificates of deposit fraud scheme from his Stanford International Bank (SIB) which is headquartered in Antigua. The federal charges named Stanford, two colleagues and three of his companies in the fraud scandal. No specific criminal charges have been brought against Stanford.
The federal judge in Dallas froze all assets and appointed receiver Ralph Janvey a Dallas attorney. According to current public financial records Stanford and his affiliates own close to $31 million of commercial property and residential property on St. Croix. Stanford also leases 37 acres of property near the St. Croix airport. The financial billionaire and sports entrepreneur was planning to build a large scale office complex and relocate his financial headquarters.
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Practice areas: Business Litigation Lawsuits
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