Stanford Fraud Receiver Recovery Approaches $1 Billion

Baker Botts partner Kevin Sadler walked into the office at 5050 Westheimer Road in Houston on Feb. 17, 2009 along with dozens of federal agents from the U.S. Securities and Exchange Commission and the FBI.

They were there to take control of Houston-based Stanford Financial Group and to serve subpoenas on banker Allen Stanford, who was officially arrested a few months later into custody. Sadler represent court-appointed receiver Ralph Janvey, who was tasked with recovering as much money as possible to give back to 18,000 defrauded investors who suffered $5 billion in hard-dollar losses in the Stanford criminal enterprise.