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To that end, the Receiver sued Gary Magness, a Stanford investor, to recover funds for the Receivership estate. The district court entered judgment against Magness. Magness now seeks to exercise setoff rights against that judgment.
In a consolidated appeal to this court, Magness challenged the district court's award of prejudgment interest, costs, and attorneys' fees. Before our decision on the appeal, the Supreme Court on December 13, 2021, denied Magness's petition to review this court's liability judgment.
Oct 8, 2020 · Defendants-Appellees are Gary D. Magness and several entities in which he maintains his wealth (collectively, the “Magness Parties”). Magness was among the largest U.S. investors in SIB. Between December 2004 and October 2006, Magness purchased $79 million in SIB CDs.
Sep 12, 2022 · The U.S. Court of Appeals for the Fifth Circuit affirmed a district court's $125 million judgment against Colorado billionaire Gary Magness for his role in the Stanford International Bank's...
Stanford International Bank investor and billionaire Gary D. Magness can't avoid having to pay a $45 million interest award that was tacked onto a $79 million fraudulent transfer clawback, with...
Stanford International Bank investor and billionaire Gary D. Magness can't avoid having to pay a $45 million interest award that was tacked onto a $79 million fraudulent transfer clawback, with the Fifth Circuit ruling in favor of the bank's receiver who was appointed after the infamous Ponzi scheme collapsed.
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Oct 8, 2020 · The receiver handling the aftermath of Stanford's $7 billion Ponzi scheme won a $123 million judgment against Gary Magness following a state court's determination that the billionaire should've suspected fraud when he received a $79 million transfer from Stanford's insolvent bank.
