Gov't
Central’s Stanford Victims Can Sue in State Court
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Many Central residents lost much or all of their savings or retirements when Allen Stanford's Ponzi Scheme fell apart. The U.S. Fifth Circuit Court of Appeals has ruled that investors who lost money in the Stanford Group debacle can file suit in state court against any entity that enabled the Ponzi Scheme to occur. Under this ruling the plaintiffs need only to prove negligence, not fraud. Central's Debbie Dougherty, a long time advocate for the Stanford victims, commented, "This is a huge victory not only for Stanford victims but for any future victims of any ponzi scheme that takes place in Louisiana." Anyone who needs further information may contact Ms. Dougherty at 571-4252.
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