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 $7 billion loss for all investors in his scheme. Sixteen (16) years after the scheme collapsed, on July 23, 2024, 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 a very brief update on the matter of LSP Lt. John Stelly v. LSP and provides highlights of the first two days of the trial entailing the class action lawsuit of the Stanford Trust Ponzi scheme victims wherein the Louisiana OFI is the defendant:
7/24/24: Brief update on Stelly v. LSP and overview of first two days of Lillie et. al. vs. OFI.
Support documents for the brief update on LSP Lt. Stelly in his reverse discrimination suit against LSP:
1. Minute Entry indicating the Stelly Settlement Conference was fruitless.
2. Stelly’s Opposition Memorandum to LSP’s Efforts to Strike Evidence in his Opposition Memorandum to LSP’s Motion for Summary Judgment (and his, “request the Court deny the motion in limine and award Plaintiff attorney fees and sanctions for filing this opposition to such a frivolous motion.”
3. LSP’s response to Stelly’s Opposition Memorandum seeking “attorney fees and sanctions…”
4. Stelly’s Motion to Strike LSP Major Robert Burns’ Declaration and Request for Expedited Hearing (obviously the trooper, not Robert Burns the blogger).
I had an interesting conversation with an old colleague today I ran into at lunch. Stelly probably should have taken anything LSP was offering him. Word on the street is his lawsuit was dismissed with prejudice by the Federal judge, with Stelly paying LSP for its court costs. Ouch.