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Stanford receiver plans to release more accounts

Stanford receiver plans to release more accounts

A court-appointed receiver is proposing to lift a freeze on additional accounts with the troubled financial companies owned by Texas billionaire R. Allen Stanford.
The Stanford Financial Group Receivership announced Tuesday that most remaining brokerage accounts could be released to their owners, a plan that would have to be approved by the federal judge overseeing the case. A hearing is scheduled for Thursday in federal district court in Dallas.
The proposal would affect accounts with at least $250,000 in them, accounts held by J.P. Morgan Clearing Corp., and any accounts managed by Stanford companies. On Monday, a ruling took effect lifting a freeze on about 12,000 investor accounts valued at $250,000 or less as of Feb. 28.


Updated : 2021-08-02 00:49 GMT+08:00