A federal judge in Dallas has ordered five national political party committees to return $1.75 million in donations and interest they received from disgraced financier Allen Stanford.
Charged with masterminding an $8 billion Ponzi scheme, Stanford’s trial was delayed for a second time this week so that he can recover from an addition to anti-anxiety meds.
U.S. District Judge David C. Godbey said the committees must return the money to a court-appointed receiver so that he can disburse it to victims.
The committees had been fighting the return of the money, the Washington Post reported:
“Although as innocent beneficiaries ... [of Stanford’s funds] the Political Committees deserve some sympathy,” they are not entitled to special treatment exempting them from an obligation to give back funds that appear to have been derived from a Ponzi scheme, Godbey said.
The Democratic Senatorial Campaign Committee must return the largest amount, $950,000. Read more here.
The losses to Stanford victims in Lafayette and across the state are estimated at $1 billion. A recent decision by the Securities and Exchange Commission, however, is likely to result in many of them receiving up to $500,000 in insurance benefits.
An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.
In late September Cleco and UL Lafayette showed off the Cleco Alternative Energy Center, where researchers explore ways to generate power by using renewable resources.
The most recent promotions, hirings and announcements from Acadiana's biz community.
While Amendments 1 and 2 will shield some health care providers from the budgetary whims of Gov. Jindal, they could make higher ed even more vulnerable to cuts.
Age 60 looks good on the country’s second-largest oil and gas show.
Local pieces and logo-emblazoned corporate gifts
Let’s show how much we care what it looks like.
The Memphis based investment firm Wunderlich recently arrived in Louisiana with the opening of a wealth management branch in Lafayette.
Broussard will soon be the site of a new Courtesy Automotive dealership.
Event addresses the industry’s growing need for qualified employees by providing an industry specific networking event.
Attorney General Buddy Caldwell’s office announced Thursday that AT&T Mobility has agreed to a $105 million settlement with Louisiana and the other 49 states over allegations that the company added third-party charges to AT&T customers’ bills without their consent or knowledge.
Investors aren’t enthusiastic about parent company Gannett’s spinoff plan, and that’s bad news for employees.
Lafayette Consolidated Government was the victor at the 3rd Circuit Court of Appeal in a suit brought against it by a billboard company that argued new(ish) zoning regulations prevented it from making good on a contract.
The state labor department figures released Friday show the initial claims increased to 2,081 from the previous week's total of 1,887. For the comparable week a year earlier, there were 2,456.
The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
The U.S. Attorney in New Orleans says a Slidell man has pleaded guilty to fraud in connection with a claim he filed related to the 2010 Gulf of Mexico BP oil spill.