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.

 

 

Permanent link to this article: http://betweenthenumbers.net/2015/03/golf-channel-may-lose-millions-in-stanford-ponzi-clawback/

Leave a Reply

Your email address will not be published.

*