DALLAS, (Reuters) – A U.S. judge said yesterday the receiver overseeing the assets of Allen Stanford may sue to recover almost $1 billion from 600 investors who bought certificates of deposit in the accused swindler’s Antigua bank.
U.S. District Judge David Godbey made the ruling at a hearing in federal court in Dallas.
The U.S. Securities and Exchange Commission had asked the court to limit the court-appointed receiver’s right to pursue the so-called “clawback” claims, saying it would harm innocent investors.
