Trial Date Set for Stanford Fraud Case

On June 9, 2022, it was announced that the jury trial in the Stanford International Bank, Ltd. (SIBL) Ponzi scheme has been set for February 27, 2023.The trial will take place in the U.S. District Court for the Southern District of Texas in Houston before Judge Kenneth M. Hoyt. Click here to read an earlier update on the case.

This matter dates back to 2009, when a group of SIBL investors filed a lawsuit alleging that The Toronto-Dominion Bank, Société Générale Private Banking (Suisse) S.A., Trustmark National Bank, HSBC Bank plc, and Independent Bank f/k/a Bank of Houston knowingly participated in the multibillion-dollar SIBL Ponzi scheme, the second largest on record. Representing the committee of investors and individual investors defrauded in the scheme are Fishman Haygood litigators Jim Swanson, Lance McCardle, Ben Reichard, Molly Wells, Hogan Paschal, and Lara Richards.

Fishman Haygood regularly represents individuals who have invested in Ponzi schemes. The firm pursues claims against both the companies and the individuals who have orchestrated the fraud as well as any third parties who knowingly participated in or aided and abetted the fraud. Fishman Haygood attorneys also have vast experience in litigating other securities-related litigation or arbitration. Click to learn more about the firm’s Ponzi Schemes, Securities, and Class Actions/Mass Actions/MDLs practice groups.