HOUSTON Feb 10 The receiver overseeing accused
swindler Allen Stanford's estate may proceed with the sale of
the firm's bank and brokerage in Panama, a U.S. judge said on
Ralph Janvey, the court-appointed receiver, may proceed
with the sale of Stanford Bank S.A. and Stanford Casa de
Valores in Panama City, two assets held by Stanford
International Holdings S.A., U.S. District Judge David Godbey
said in a one-page order.
Panama's bank regulator seized Stanford's Panama operations
last year after the U.S. Securities and Exchange Commission
accused Texas billionaire Allen Stanford of running a $7
billion Ponzi scheme.
Janvey had previously negotiated the sale of the Stanford
assets to Strategic Investments Group for $15.5 million,
according to court documents.
Stanford, 59, opposed the sale. He has denied any
wrongdoing and is in a Houston jail awaiting trial on criminal
charges related to the fraud.
The civil case is Securities and Exchange Commission v.
Stanford International Bank Ltd et al, U.S. District Court for
the Northern District of Texas, No. 09-00298-N.
(Reporting by Anna Driver in Houston; editing by Andre