Now, Dallas Attorney Says PGA Tour Got $13 Million From Allen Stanford. He Wants It Back.

A dip into the downtown federal courthouse grab bag this morning comes up with two interesting filings. Let's begin with this one.

You probably recognize the name Ralph Janvey by now. For a long while, the partner at the Ross Avenue law firm of Krage & Janvey has been the court-appointed receiver in the Allen Stanford case. It's Janvey's job to turn over every couch cushion he can find to recover whatever loose change he can scare up to pay back the folks sucked up in Stanford's $7-billion Ponzi scheme involving those fraudulent certificates of deposit.

In recent weeks, Janvey's been going after some high-profile, bold-faced sports names: golfers David Toms and Vijay Singh, the University of Miami, the Miami Heat, the England and Wales Cricket Board. Long story short: If you ever got money from anyone or anything associated with Pete Sessions's pal, look out -- Janvey may need to take a peek in your wallet.

Which is how, yesterday in Dallas federal court, Janvey came to sue the PGA Tour, claiming that in 2007 and '08 -- "a time when the Stanford Parties were insolvent, and the Stanford Parties did not receive reasonably equivalent value in exchange for the transfers" -- it received a total of $12,913,099.45 from Stanford-associated entities. Says the suit:

The Plaintiffs are entitled to disgorgement of the CD Proceeds transferred from the Stanford Parties to PGA because such payments constitute fraudulent transfers under applicable law. The Stanford Parties made the payments to PGA with actual intent to hinder, delay, or defraud Stanford's creditors; as a result, the Plaintiffs are entitled to the disgorgement of those payments.
The entire doc, which recaps the government's case against Stanford for those who need reminding, follows.


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Robert Wilonsky
Contact: Robert Wilonsky