- US Markets Bracing for Selloff on Dubai Debt Worries
- US Dollar Falls to 14-Year Low Against the Yen
- ING Prices Share Issue at Hefty Discount
- No Thanksgiving Rest for Retailers in Sales Race
- UK's Darling to Downgrade 2009 Growth Forecast
- US Companies Already Moving on Curbing Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Investing in Good Karma – and Making a Profit
- Retailers Should Believe in Christmas Miracles
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- US Markets Bracing for Selloff On Worries About Dubai's Debt
- Gold Retreats from Record High as Dollar Rebounds
- China Unveils Carbon Target Ahead of Copenhagen
- UK's Darling to Downgrade 2009 Growth Forecast
- No Thanksgiving Rest for Retailers in Sales Race
- Great Britain, No Longer That Great: Investor
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Attraction of Switzerland to Businesses
Text Size 
Senior Correspondent, CNBC
One of Allen Stanford's mistresses—whom the accused fraudster euphemistically refers to as "outside wives"—should be held in contempt of court, according to the court-appointed Receiver in the case.
 |
AP Allen Stanford |
The request comes after Rebecca Reeves-Stanford allegedly sold a Florida mansion paid for by Allen Stanford, then quickly moved the proceeds offshore in violation of a court-imposed asset freeze.
Ralph Janvey, appointed by a federal judge in February to gather all assets traceable to the alleged Stanford fraud, says in a court filing that Reeves-Stanford sold the mansion on Key Biscayne for $3 million on May 8.
This was even though she allegedly knew the property was part of a broad asset freeze imposed in February after the Securities and Exchange Commission accused Allen Stanford and his companies of running an $8 billion Ponzi scheme.
The filing also alleges two of Reeves-Stanford's attorneys helped hide the sale. After the sale, the filing says, Reeves-Stanford transferred the proceeds to the Cook Islands and New Zealand. But Janvey says the mansion was paid for by Allen Stanford, and the proceeds belong to Stanford investors.
The filing says Rebecca Reeves-Stanford and Allen Stanford's relationship goes back "nearly two decades." They were never married (Stanford and his wife of 35 years are separated), but Reeves-Stanford nonetheless continues to use Stanford's last name, and the couple has two children. Stanford maintains a similar relationship with several other women.
The filing says Stanford provided Reeves-Stanford with "large sums of money and substantial gifts" throughout their relationship, and that Reeves-Stanford has no marketable skills or any source of funds other than Allen Stanford.
Reeves-Stanford's current attorney, who is not named in the contempt motion, was not immediately available for comment.
- What you need to know.
- Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
Data is a real-time snapshot *Data is delayed at least 15 minutes