The Texas Lawbook: “‘Call Your First Witness’ – Fifth Circuit to Lawyers in Final Stanford Ponzi Scheme Trial”
February 15, 2023
The Texas Lawbook article “‘Call Your First Witness’ – Fifth Circuit to Lawyers in Final Stanford Ponzi Scheme Trial” published on Feb. 14, 2023, details the U.S. Court of Appeals for the Fifth Circuit’s per curium decision that the upcoming trial against Toronto-Dominion Bank, HSBC Bank, Independent Bank (formerly Bank of Houston), and Societe Generale Private Banking (SG Suisse) will proceed as scheduled on Feb. 27. Click here to read more on The Texas Lawbook.
The Fifth Circuit’s published order denying both the petitions for mandamus and the motion to stay trial proceedings can be found here.
Earlier in the month, The Texas Lawbook covered Toronto-Dominion Bank’s request for the federal appeals court to stop the case from going to trial. Read more in “Banks Seek to Postpone Multibillion-Dollar Trial in Final Stanford Civil Case” here.
Litigation in this matter began in 2009, when a group of investors filed a lawsuit alleging that five banks knowingly participated in the multibillion-dollar Stanford International Bank Ponzi scheme, the second largest on record. One of the banks, Trustmark Bank, reached a settlement in January 2023. Fishman Haygood litigators Jim Swanson, Ben Reichard, Molly Wells, Hogan Paschal, and Lara Richards represented the investors. Baker Botts and Castillo Snyder served as co-counsel. Read more here.