Judge Denies Allen Stanford’s Motion for Contempt in Insurance Coverage Case
A judge has denied a motion for contempt that R. Allen Stanford filed
against Stanford Financial Group’s insurers on the ground they allegedly
failed to meet a court-ordered reimbursement schedule for his criminal
defense costs. The underwriters alleged that the most recent fee request
by Stanford’s lead criminal defense attorney missed a deadline, and
questioned the firm’s rates. The judge is to decide if insurers can deny
coverage to former Stanford Financial executives because they allegedly
engaged in money laundering.
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