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What Happened When Alex Kenjeev Paid His Student Loan in CashRobert Allen Stanford has been charged with running one of the largest Ponzi schemes in history and, like any other millionaire, that means he's looking to spend a ton of money on his defense.
Since Stanford's assets have been frozen, he has to get court approval for his expenses, and he's asking for an allowance of $10 million for his legal fees. But the Feds think that amount is excessive and are concerned that that money should go to his victims.
So for now it's in limbo, but Mr. Stanford is already paying the price. The New York Post reports that "Just last week, Stanford's lawyer, Dick DeGuerin, sprinted for the exit because he wasn't getting paid. The court, though, is forcing DeGuerin to stay until someone else can be found. That someone might be Robert Luskin, of Patton Boggs, in Washington, D.C., but he, too, will not guarantee legal work unless he gets paid."
Since Stanford's assets have been frozen, he has to get court approval for his expenses, and he's asking for an allowance of $10 million for his legal fees. But the Feds think that amount is excessive and are concerned that that money should go to his victims.
So for now it's in limbo, but Mr. Stanford is already paying the price. The New York Post reports that "Just last week, Stanford's lawyer, Dick DeGuerin, sprinted for the exit because he wasn't getting paid. The court, though, is forcing DeGuerin to stay until someone else can be found. That someone might be Robert Luskin, of Patton Boggs, in Washington, D.C., but he, too, will not guarantee legal work unless he gets paid."
While Sir Robert Allen Stanford sits in jail awaiting news on what will become of his alleged $7 billion Ponzi scheme, he's doing quite a bit of complaining.
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