Mar 13

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Golf Channel May Lose Millions in Stanford Ponzi Clawback

The Ponzi scheme orchestrated by R. Allen Stanford is among the most notable of our time and the Golf Channel might find itself among its extensive list of victims.  The Fifth Circuit has given the go-ahead for the receiver to pursue $6 million of advertising fees paid by Stanford to the Golf Channel.  The basis for such a claim is that the cable channel did not provide reasonably equivalent value for the funds paid and that they should therefore be treated as fraudulent transfers.



About the author

Renee Howdeshell

Renee Howdeshell is a founding member of Fulcrum Inquiry, an accounting, finance and economic consulting firm that performs damage analyses for commercial litigation, forensic accountings, royalty & distribution audits, financial investigations, and business valuations. Ms. Howdeshell holds a degree in Finance and Marketing from the University of Virginia's McIntire School of Commerce and is a Certified Public Accountant (CPA) and a Certified Fraud Examiner (CFE). She has testified as an expert witness in federal court, CA state court and arbitration regarding the results of her work. She can be reached at (213) 787-4112 and her resume is available at www.fulcrum.com.

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