Stanford Clients Sue Willis Group
July 4, 2009 by Stephen Kersey
Filed under Business News
On Thursday, several Latin American clients of Stanford Financial Group filed suit against insurance broker Willis Group Holding Ltd. The lawsuit, which was filed in federal court in Dallas, contends that Willis Group was a willing and knowing participant aiding in the $7 billion fraud by Stanford.
The group of investors are seeking more than $1 billion in damages. Stanford founder, Texas tycoon Allen Stanford and several others are facing criminal and civil charges for the $7 billion ponzi scheme.
Willis actions “crossed the line from the role of insurance brokers, to acting as sales agents for Stanford Financial,” lawyers for the …read more
