U.S. Supreme Court Will Not Take Up Appeal In SIB Ponzi Scheme Clawback Suit

Mealey's (December 13, 2021, 1:49 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Dec. 13 declined review of a Fifth Circuit U.S. Court of Appeals’ ruling in an appeal of a clawback suit filed by the court-appointed receiver for Stanford International Bank (SIB) stemming from R. Allen Stanford’s massive Ponzi scheme in which a panel determined that the Texas Uniform Fraudulent Transfer Act’s (TUFTA) good faith affirmative defense does not allow SIB investors to retain fraudulent transfers they received while on inquiry notice of the scheme....