Judge: Return $21M in gold to Stanford customers

[formercia]

Source: AP


1/6/2010, 12:12 p.m. EST
The Associated Press

(AP) — DALLAS - A federal judge has ordered the return of $21.2 million in gold coins and bullion to customers of indicted Texas businessman R. Allen Stanford.

Judge David C. Godbey issued his ruling Tuesday in federal court in Dallas.

The ruling affects more than 200 customers, including 147 who had $20.2 million in coins and bullion individually marked and stored in Stanford vaults. About another $1 million in gold was paid for and marked for delivery to about 70 customers when the Securities and Exchange Commission sued Stanford and froze the assets of his companies.

Stanford denies allegations that he led a $7 billion Ponzi scheme by promising inflated returns to about 28,000 investors on certificates of deposits at his Antiguan bank.




Read more: http://www.silive.com/newsflash/business/index.ssf?/base/business-52/1262801808190860.xml

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Follow the money. I wonder if the IRS will look into this.

[dixiegrrrrl]

1. Wonder how much of the actual bullion he has available to retrun.

[formercia]

2. Better have it assayed first

You never know.....