|
|
Article: Fraud case shows need for D&O priority clause; Alleged Ponzi leaders vie with companyfor coverage limits.(NEWS)(directors and officers policy )
- Article from:
- Business Insurance
- Article date:
- October 5, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: ZACK PHILLIPS
The leaders of an alleged billion-dollar Ponzi scheme and the receiver of the now-bankrupt company are involved in a court battle that observers say illustrates the need for a directors and officers policy provision that has become more prevalent in recent years.
Federal authorities have accused R. Allen Stanford of operating Houston-based Stanford Financial Group Co. as a Ponzi scheme, bilking investors of more than $7 billion through fake certificates of deposit from a subsidiary bank in Antigua. Mr. Stanford and his alleged co-conspirators, who face lawsuits and criminal charges, say they need to tap the company's D&O policy to ...
Related newspaper, magazine, and journal articles:
|
|
Article: GVI Security Solutions, Inc., Enterprise Solutions Group to ...
Business Wire;
September 20, 2005 ;
700+ words
... ... entered into an agreement with the Stanford Financial Group to provide remote intelligent ... source," said Tom Raffanello of the Stanford Financial Group, Security Department. "Our ... We are very pleased to work with Stanford Financial Group to provide the security infrastructure ...
|
|