Ralph Janvey, the lawyer put in charge of Allen Stanford’s assets, has asked politicians to give back money they received from the accused fraudster and his company’s political action committee, according to the Dallas Morning News. President Barack Obama has taken the $4,600 contribution from Stanford and given it to charity, according to the Christian Science Monitor. Sen. Bill Nelson, D-Fla., is going one better and returning the $45,900 that Stanford and his employees donated to him since 2000. A Nelson aide told reporters in an e-mail that the senator “wants every thin dime associated with Stanford returned to charity or used in some way that could help folks who were deceived by this guy.” Read the Monitor story here. Janvey also wants the assets of some clients unfrozen, in cases where Stanford Financial Group only provided investment advice. Read the Bloomberg News report here.
The scope of the Stanford case is still unfolding. Last week, U.S. District Judge Sam Lindsay, who was assigned the case, recused himself after he realized a relative had “substantial holdings” managed by Stanford. The Memphis (Tenn.) Daily News looks at some of the scandal and how it affects the city. Read the article here .
