Lawyer wants $1.5B for Stanford investors

DALLAS, TX Court-appointed receiver Ralph Janvey filed a report in federal court in Dallas, outlining his plan to go after $1.5 billion. That would give allegedly defrauded investors a return of 20 cents on the dollar.

Janvey has about $71 million in cash on hand and is pursuing the rest through lawsuits and other means.

John Little, a lawyer appointed to represent investors, says Janvey's recovery goal is "something of a fantasy" and says investors should prepare to receive as little as 2 cents on the dollar.

Stanford is in jail awaiting trial on related criminal charges in Houston.

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