6 Stories

Obama, Others Won't Return Ponzi Cash

Receiver wants the $1.8M Allen Stanford gave to politicians

(Newser) - The receiver in charge of recovering money for R. Allen Stanford's fleeced investors is trying to recover some $1.8 million the alleged Ponzi schemer gave to a host of political causes—but they refuse to return the money, Reuters reports. Among the holdouts: President Obama's campaign, and... More »

Stanford Ponzi Scheme Case Entangles Baseball Stars

(Newser) - The receiver in the R. Allen Stanford case wants seven current and former baseball stars to turn over millions they once invested in Stanford’s alleged Ponzi scheme, intending to divvy up the money among Stanford’s other victims, the Washington Times reports. He’s asking for a combined $9.... More »

Market-Regulation Bill No Longer on Fast Track: Frank

Obama wants bill passed fast, but Congress chooses to take its time

(Newser) - Once on the fast track to President Obama’s desk, a bill that would grant the government powers to place large companies into receivership has been pushed to the slow lane, Rep. Barney Frank tells the Wall Street Journal. The bill’s complexity, and a slow-moving Senate, led the Financial... More »

Foreclosure Crisis Stings Renters, Too

(Newser) - You probably don’t want to live in the Chandler, Ariz., housing complex known as Alante on the Islands, MSNBC reports. The development was once owned by a California company, but entered receivership when the overextended firm went under. Now maintenance is spotty, the pool has turned green, residents don’... More »

Stanford Accounts to Remain Frozen

(Newser) - A federal judge ruled today that thousands of investor accounts with R. Allen Stanford's financial companies will remain frozen for another 10 days, while a court-appointed receiver said he's developing a plan to return some of the money to its owners. Stanford's companies have been in receivership since the Securities... More »

Waterford Enters Bankruptcy

Struggling icon of British Isles couldn't find a buyer

(Newser) - After failing to find a buyer, five years of losses have driven Waterford Wedgwood into receivership, Bloomberg reports. Deloitte Ireland has been named receiver for the iconic  crystal- and china-maker that built Times Square’s New Year’s Eve ball. If no new financing emerges, 1,900 Irish and British... More »

6 Stories