Allen Stanford Ponzi Scheme

[scion]

Eleventh Circuit: Carlos Zelaya v. United States

The National Law Journal
March 30, 2015
http://www.nationallawjournal.com/id=1202722018002/Eleventh-Circuit-Carlos-Zelaya-v-United-States-?cmp=share_twitter&slreturn=20150230111235

The U.S. Court of Appeals for the Eleventh Circuit on Monday said the United States is shielded from liability for the alleged negligence of the U.S. Securities and Exchange Commission over its handling of R. Allen Stanford's multibillion-dollar Ponzi scheme. A three-judge panel upheld the dismissal of a suit against the United States.

"In reviewing the district court’s dismissal, we reach no conclusions as to the SEC’s conduct, or whether the latter’s actions deserve plaintiffs’ condemnation. We do, however, conclude that the United States is shielded from liability for the SEC’s alleged negligence in this case," the appeals court said.

Read the Eleventh Circuit ruling below.
https://s3.amazonaws.com/s3.documentcloud.org/documents/1697851/zelaya-v-us-ca11-20150330.pdf


http://www.nationallawjournal.com/id=1202722018002/Eleventh-Circuit-Carlos-Zelaya-v-United-States-?cmp=share_twitter&slreturn=20150230111235