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    Allen Stanford files 299-page appeal of his 110-year sentence

    WASHINGTON — Even tucked away inside a high-security federal prison in Central Florida, former Houston billionaire banker Allen Stanford is still thinking big — and flouting the rules. Stanford filed a 299-page brief last month with the 5th U.S. Circuit Court of Appeals in New Orleans, making no fewer than 15 lengthy arguments about why he should be set free. He was convicted in 2012 on 13 felony charges related to America’s second-largest Ponzi scheme ever and sentenced to 110 years in prison. More in the Dallas News here.

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    Landrieu: Stanford Ponzi Scheme Victims Deserve Justice

    WASHINGTON – Last week, U.S. Senator Mary Landrieu, D-La., wrote to U.S. Securities and Exchange Commission (SEC) Chair Mary Jo White about her disappointment in the SEC’s decision to not appeal the Stanford Ponzi Scheme Victim’s case. Click here for the Senator’s Press Release and to read the letter on-line.

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    ALERT: New York State Residents

    NOW is the time to write Senator Schumer, thank him for his leadership and encourage him to engage his fellow Senators to join him in supporting S.1725, Restoring Main Street Investor Protection and Confidence Act. Submit your letter by clicking here.

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    ALERT:

    H.R.3482 – Two New Co-sponsors
    Congresswoman Kay Granger [R-TX12] and Congressman Tom Marino [R-PA10] have signed on to Co-sponsor H.R.3482 – Restoring Main Street Investor Protection and Confidence Act.

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    Will SIPC’s Brokerage Insurance Scam Help Allen Stanford Walk?

    If you experience an insured loss and the insurance company doesn’t pay, you know you’ve been scammed. As I’ve discussed in a series of columns posted at www.kotlikoff.net, SIPC (the Securities Investor Protection Corporation) is running an enormous scam in claiming to insure our brokerage accounts against fraud. SIPC’s refusal to pay the legitimate claims of most Madoff victims and all Stanford victims makes this abundantly clear. Even worse, SIPC is placing all brokerage account holders at enormous additional risk by standing ready to sue them if they earn a return on their investments and spend the proceeds. In fact, thanks to precedents SIPC established in the Madoff case, SIPC can declare the loss of your securities to be the result of a Ponzi scheme and sue you for up to every dollar you withdrew in the up to six years prior to the fraud’s discovery! More on Forbes here.

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