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Saturday, 16 February 2013 02:30
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By caribarena news
The domino chain of people who helped make up the R Allen Stanford empire continues to be toppled by the American justice system, with a Texas judge sentencing the last two defendants convicted for helping the convicted Ponzi schemer to 20 years each in prison.
R Allen Stanford is serving a 110-year prison sentence for swindling more than US$7 billion in one of the biggest Ponzi schemes in US history.
The latest casualties were Gilbert Lopez Jr, an ex-chief accounting officer, and Mark Kuhrt, the former global controller.
They were both sentenced at a hearing on Thursday in Houston federal court to 20 years in US Federal Prison.
Media reports said attorneys for both defendants had pleaded for lesser prison terms, on the grounds that their clients were not as culpable as two other former executives who were given significantly smaller terms.
But prosecutors argued successfully that Lopez and Kuhrt had helped hide Stanford's misuse of investor funds.
14 Comments In This Article
re: observer
The case against AS's Antiguan lawyer, while it is now civil, is an interesting one. If he is caught perjuring himself, and is indicted, he too, would be forced to sing for his supper.
"Let's fix the little things with RWE before we attempt to fix the big things."
fnpsr
@ Antigua, Barbuda & Redonda Judiciary
Jumbee Picknee
evil american empire
reality check
RE: Two More Stanford Executives Jailed
When someone tells you they can get you 8% in a secured CD when you know currrent rates are 3% , run and don't look back. You got greedy and said tell me more and now you blame everyone but yourself.
GodSon
You reap what you sew #3
Observer..
You reap what you sew #2
Observer..
You reap what you sew #1
Observer..
RE: Two More Stanford Executives Jailed
Worse to Come
RE: Two More Stanford Executives Jailed
Innocent
He Who Laughs Last!
Simplicity
RE: Two More Stanford Executives Jailed
Reality Check
CHICKENS COMMING HOME TO ROOST
Under a conspiracy theory, individuals and business entities, can face direct liability for damages if they independently contributed to the commission of torts against investors or other parties suffering harm. Among other things, coconspirators might have engaged in fraud, negligent misrepresentati on, breach of fiduciary duty, or other torts, depending on the co-conspirator’ s relationship with the investors.
Aiding & abetting "cause of action does not require that the aider and
abettor owe plaintiff a duty so long as it knows the primary wrongdoer’s conduct constitutes a breach of duty, and it substantially assists that breach of duty” See Neilson v. Union Bank of California, N.A.,
290 F. Supp. 2d 1101, 1127 (C.D. Cal. 2003).
Not just LEROY KING, the FSRC and its Officers.
Lord Have Mercy
CHICKENS COMMING HOME TO ROOST
CONSPIRACY,
AIDING & ABETTING,
CONSTRUCTIVE FRAUD, and
VICARIOUS LIABILITY in the context of a PONZI SCHEME.
FSRC Officers as well as ALP and UPP ministers who received campaign contributions as "HUSH MONEY"
“liability may ... be imposed on one who aids and abets the commission of an intentional tort if the person
(a) knows the other’s conduct constitutes abreach of duty and gives substantial assistance or encouragement to the other to so act or
(b) gives substantial assistance to the other in accomplishing a tortious result and the person’s own conduct, separately considered, constitutes a breach of duty to the other person.” Fiol v. Doellstedt, 50 Cal. App. 4th
1318, 1325-26 (1997). See also Dubai Islamic Bank v. Citibank, N.A., 256 F. Supp. 2d 158, 167 (S.D.N.Y.2003).
Lord Have Mercy
He who laugh last!
Intregrity FIRST: "Not just, telling the world, Showing the world".
skyewill
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