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The Receiver sought to recover estate assets from various parties including Gary Magness and some of his affiliates. The district court refused to consider a setoff that would have reduced the Receiver's judgment against Magness, concluding among other reasons that a setoff would be inequitable.
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...
Sep 20, 2021 · We are presently defending two different appeals from a $130-million judgment for the Receiver against Colorado billionaire Gary Magness. We are also working with the Official Stanford Investors Committee on a multi-billion dollar lawsuit against Stanford’s former bankers.
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.
Aug 26, 2024 · The Receiver has obtained a judgment against Magness to rectify the latter’s receipt of tens of millions of dollars of fraudulent transfers from the Stanford entities. By virtue of this adverse judgment Magness seeks preferential treatment in the form of what amounts to an option to put his CDs back to the receivership estate at par.
Jan 20, 2017 · A Dallas federal jury Wednesday told the court-appointed receiver for R. Allen Stanford’s $7 billion international Ponzi scheme that he could not take $88 million from billionaire investor and film producer Gary Magness.
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Dec 13, 2021 · Colorado billionaire Gary Magness lost his attempt to have the U.S. Supreme Court review a federal appeals court decision that he must pay back at least $79 million he received from R. Allen Stanford’s $7 billion Ponzi scheme.
