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Sun Sep 8, 2019, 11:19 PM

Next stop for Louisiana victims of Stanford Ponzi scheme? Federal appeals court

Aging Baton Rouge-area victims of former Texas tycoon R. Allen Stanford's massive Ponzi scheme have taken their decade-old fight to recoup the money they lost to a federal appellate court in New Orleans.

Baton Rouge lawyer Phil Preis, who represents dozens of local investors who suffered about $250 million in damages, filed a notice of appeal last week at the 5th U.S. Circuit Court of Appeals.

The retirees are challenging U.S. District Judge Brian Jackson's July dismissal of their federal class-action lawsuit and his Aug. 15 denial of their motion to reconsider that decision. The suit was filed in 2009.

The Baton Rouge federal judge ruled in favor of the suit's lone federal court defendant, Pennsylvania-based SEI Investments Co., an international financial services firm that administered the Stanford Group Co. investments.

Read more: https://www.theadvocate.com/baton_rouge/news/courts/article_6194beec-cf53-11e9-8f59-c3754aa844a5.html

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