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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...
Mar 20, 2024 · 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.
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 · 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.
- dgill@bloomberglaw.com
- Reporter
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.
Oct 8, 2020 · The receiver handling the aftermath of R. Allen Stanford’s $7 billion Ponzi scheme won a $123 million judgment against Gary Magness following a state court’s determination that the Colorado billionaire should’ve suspected fraud when he received a $79 million transfer from Stanford’s insolvent bank.
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.
