Federal Judge Approves $65M Amended Settlement Over Ponzi Scheme

Mealey's (January 27, 2021, 2:27 PM EST) -- DALLAS — A federal judge in Texas on Jan. 21 approved an amended $65 million settlement agreement between the receiver for Stanford International Bank and insurers in a dispute arising from the Stanford financial Ponzi scheme, finding that the amended settlement is fair and reasonable and adequately addresses an opinion by the Fifth Circuit U.S. Court of Appeals regarding the original settlement....