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U.S. judge says Stanford receiver may sue investors

DALLAS, July 31 - A U.S. judge said on Friday the receiver overseeing the assets of Allen Stanford may sue to recover almost $1 billion (600 million pounds) from 600 investors who bought certificates of deposit in the accused swindler’s Antigua bank.

U.S. District Judge David Godbey made the ruling at a hearing in federal court in Dallas.

The U.S. Securities and Exchange Commission had asked the court to limit the court-appointed receiver’s right to pursue the so-called “clawback” claims, saying it would harm innocent investors.

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