On January 29, 2025, the U.S. District Court for the Northern District of Texas entered final judgments against defendants Robert Allen Stanford, James Davis, Gilberto Lopez, Stanford International Bank, Ltd., Stanford Group Company, and Stanford Capital Management, LLC.
The court simultaneously entered final judgments against relief defendants Stanford Financial Group Company and The Stanford Financial Group Building, Inc.
As alleged in the SEC’s second amended complaint filed on June 19, 2009, Stanford and Davis, with the assistance of the other Defendants, perpetrated a massive $8 billion Ponzi scheme and misappropriated billions of dollars of investor funds through the offer and sale of fraudulent, offshore “certificates of deposit.”
The final judgments ordered permanent injunctions of the antifraud provisions of the securities laws against all of the Defendants and also Section 7(d) of the Investment Company Act for the entity defendants, in addition to disgorgement, PJI, and civil penalties as outlined below.
Robert Allen Stanford: Disgorgement plus prejudgment interest totalling $6,761,189,969.06, jointly and severally with Stanford International Bank and Stanford Group Company, but deeming Robert Allen Stanford’s obligation to pay this amount satisfied by forfeiture orders entered in United States v. Robert Allen Stanford, No. 4:09-cr-342(1) (S.D. Tex. Houston Division); a civil penalty of $5.9 billion.
James Davis: Disgorgement plus prejudgment interest totalling $13,504,749.06, offset by $841,288.08 obtained by the court-appointed receiver; a civil penalty of $5 million.
Gilberto Lopez: Disgorgement plus prejudgment interest totalling $3,423,794.05.
Stanford International Bank: Disgorgement plus prejudgment interest totalling $6,761,189,969.06, jointly and severally with Stanford and Stanford Group Company, but deeming Stanford International Bank’s obligation to pay this amount satisfied upon the court-appointed receiver’s ultimate collection efforts and distributions to investors.
Stanford Group Company: Disgorgement plus prejudgment interest totalling $6,761,189,969.06, jointly and severally with Stanford and Stanford International Bank, but deeming Stanford Group Company’s obligation to pay this amount satisfied upon the court-appointed receiver’s ultimate collection efforts and distributions to investors.
Stanford Capital Management: Disgorgement plus prejudgment interest totalling $23,647,189.35, but deeming Stanford Capital Management’s obligation to pay this amount satisfied by the collection efforts and distributions to investors by the court-appointed receiver.
Stanford Financial Group Company: Disgorgement plus prejudgment interest totalling $2,229,094,048.83, but deeming Stanford Financial Group Company’s obligation to pay this amount satisfied by the collection efforts and distributions to investors by the court-appointed receiver.
The Stanford Financial Group Building: Disgorgement plus prejudgment interest totalling $6,428,833.27, but deeming The Stanford Financial Group Building’s obligation to pay this amount satisfied by the collection efforts and distributions to investors by the court-appointed receiver.
