(Reuters)-the government said, it will be "unrealistic" was performed to return him about $7 billion in PangShi scam victims, it should be allowed to confiscate assets, to make up for the victims of fraud to financiers Allen Stanford.
On Monday in federal court in Houston for the record, the justice department said, victims of the huge, difficult to calculate the loss of Stanford university and asset freezes in different jurisdictions will be difficult to restore.
On March 6, a federal jury convicted of what prosecutors said sells counterfeit a certificate of deposit, from his antigua based on fraud, conspiracy and obstruction charges 62, Stanford university, Stanford international bank Co., LTD.
Stanford university will June 14 sentenced, can spend his life in prison break. The jury also found that federal authorities should try to seize $3.3 million dollars was frozen funds, Stanford university in 29 foreign bank account hide.
Once considered a billionaire, Stamford later claimed that is poor.
The U.S. justice department said, restore to the original state of the complex, because the customer account in U.S. interest rates and 130 million yuan, did not pay from their accounts and some customers, but not others quit "fiction" interest or capital.
It says it has agreed to the United States securities and exchange commission (SEC), in principle, a joint distribution process.
The justice department also said a receiver, winding part of the business at Stanford university, in order to ensure a fair, trying to count "net", every investor loss amount. This method is also used to in his company Bernard · Douglas fealty.
Lawsuit case at Stanford university, the federal district court in southern Texas, 09-CR-00342.




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