Stanford’s Ex-Wife Sues U.S. Seeking Billions in Seized Assets

The ex-wife of Allen Stanford, who is serving a prison sentence for a $7 billion fraud, sued the U.S. government seeking the return of $12 billion in seized assets (Stanford v. United States, Fed. Cl., 1:15-cv-00123, complaint filed).

In 2012, the U.S. District Court for the Southern District of Texas sentenced convicted fraudster R. Allen Stanford to 110 years in prison for master-minding a decades-long Ponzi scheme. The former Texas tycoon also was ordered to pay a “personal money judgment” of $5.9 billion. Stanford, however, was declared indigent by the court in 2010 because his assets were ...