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Switzerland will return to the United States 150 million dollars that were blocked in bank accounts, to be delivered to the victims of a pyramid scheme implemented by the American fraudster Robert Allen Stanford, the Swiss Ministry of Justice announced on Monday, Reuters reports, according to the news . .com.
Stanford, a former Texas financier, was convicted in 2012 by a Houston jury in a $ 7.2 billion fraud case that spanned two decades and was only overshadowed. of the pyramid scheme developed by the American Bernie Madoff.
Switzerland has previously returned $ 50 billion.
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Stanford, who is serving a 110-year prison sentence, concealed millions of dollars stolen from Stanford International Bank in Antigua from the Swiss division of French bank Societe Generale, which he used to finance the acquisition of a fleet of private jets and a yacht. , according to court documents.
“The release of the funds was made possible after the sentence against Allen Stanford was final,” explained the Swiss Ministry of Justice.
Societe Generale has for years challenged allegations that it failed to meet its money laundering prevention obligations when it accepted money from Stanford, according to Swiss court documents.
A Societe Generale spokesperson declined to comment on Monday.
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