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Jury finds Office of Financial Institutions not civilly liable to Stanford victims by vote of 11-1.

Shelton “Dennis” Blunt, lead attorney for the Office of Financial Institutions (OFI) in Lillie et. al. vs. OFI.

In today’s Sound Off Louisiana feature, founder Robert Burns provides a wrap on the proceedings of Lillie et. al. vs. Louisiana Office of Financial Insertions (OFI):

 Highlights of August 9, 2024 proceedings of Lillie et. al. vs. OFI.

As indicated on the video, here is the 6 p.m. WAFB feature on the matter.  The station did have some interviews on its 10 p.m. newscast; however, they did not place those interviews on their website.

Meanwhile, here is the WBRZ feature on the trial.  Additionally, Stanford victims’ attorney Phil Preis subsequently issued a press release as covered by this WBRZ feature.

Links for attorneys arguing their clients case:

Plaintiffs:  Phil Preis and his daughter, Caroline Graham.

Defendant:  Dennis Blunt, Nena Eddy, and Michael Victorian.

Did OFI securities expert Joseph Borg land knockout blow to Stanford Trust victims’ case in stressing that State regulators cannot preempt Feds on private placement securities such as Stanford Bank CDs?

Former Alabama Securities Commission Director, Joseph Borg, who served in that capacity for 28 years until his retirement in early May of 2023.

In today’s Sound Off Louisiana feature, founder Robert Burns provides an overview of August 8, 2024 proceedings of Lillie et. al. vs. Louisiana Office of Financial Insertions (OFI):

 Highlights of August 8, 2024 proceedings of Lillie et. al. vs. OFI.

As promised in the video, here is the news page announcing Borg’s retirement from the Alabama Securities Commission after 28 years as Director.  Seeing all of his accomplishments throughout his career is why Burns simply referred to him as “the real deal” in the above video!

Links for attorneys arguing their clients case:

Plaintiffs:  Phil Preis and his daughter, Caroline Graham.

Defendant:  Dennis Blunt, Nena Eddy, and Michael Victorian.

 

OFI’s Van Tassel testifies Stanford Bank had $3.25 billion of its reported $8.3 billion in assets “in vastly overvalued real estate,” Antigua bank regulators, auditors taking bribes; OFI strongly counters Preis’ prior “throwing individual investors to the wolves” question.

Robert Allen Stanford, Federal prison inmate and mastermind behind a Ponzi scheme which allegedly cost Southeast Louisiana investors several billion dollars as part of an overall estimated loss of $7 billion to all investors in the scheme.  On July 23, 2024, sixteen (16) years after the scheme collapsed, the class action lawsuit of his victims against the Louisiana Office of Financial Institutions (OFI) commenced.

In today’s Sound Off Louisiana feature, founder Robert Burns provides an overview of August 7, 2024 proceedings of Lillie et. al. vs. Louisiana Office of Financial Insertions (OFI):

 Highlights of August 7, 2024 proceedings of Lillie et. al. vs. OFI.

As referenced on the video, TD Bank, along with three other banks, reached a $1.6 billion settlement prior to a Federal trial in Texas for which investors would receive a net $1.38 billion, or roughly 19 percent of their losses.

As mentioned on the video, R. Allen Stanford filed a Federal suit to block the settlement.  He lost at the trial court level and the appeals court level, and the U. S. Supreme Court declined to hear his appeal.  As his last-ditch effort, Stanford filed this U. S. Supreme Court Writ of Certiorari seeking a rehearing.

Click here for Karyl Van Tassel’s webpage at her employer.

Links for attorney arguing their clients case:

Plaintiffs:  Phil Preis and his daughter, Caroline Graham.

Defendant:  Dennis Blunt, Nena Eddy, and Michael Victorian.