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GMAG, L.L.C., 592 S.W.3d 125, 133 (Tex. 2019). In October 2020, we reversed and rendered judgment for the Receiver as to Magness's liability for the $79 million. Janvey, 977 F.3d at 431. Following our decision, the Receiver moved in district court for entry of final judgment for the $79 million.
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...
Since then, the Receiver has been recovering Stanford's assets and distributing them to victims of the scheme. 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.
Dec 13, 2021 · The Supreme Court declined to review a federal appeals court decision that Gary Magness must pay back at least $79 million for money he received as part of Stanford's Ponzi scheme.
- dgill@bloomberglaw.com
- Reporter
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.
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.
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Mar 8, 2022 · Courthouse: U.S. Court Of Appeals, Fifth Circuit. Party Details. Plaintiff / Appellee. Ralph S. Janvey, in his Capacity as Court-Appointed Receiver for the Stanford International Bank Limited et al. Defendant / Appellants. GMAG, L.L.C. Magness Securities, L.L.C. Gary D. Magness.
