Stanford Trial Drags Former Proskauer, Chadbourne Partner Back into Spotlight
Posted by Brian Baxter
Once the cochair of Proskauer Rose’s securities practice, Thomas Sjoblom saw his legal career hit a snag three years ago this month when former client R. Allen Stanford was charged with running a $7 billion Ponzi scheme.
Now the former Proskauer and Chadbourne & Parke partner, who has his own solo practice in Washington, D.C., is getting fresh attention with Stanford's federal criminal trial under way in Houston.
On Wednesday, James Davis, the former chief financial officer for Stanford Financial Group (SFG), wrapped up a four-day turn as the prosecution's star witness. Subjected to blistering cross-examination by one of Stanford's lawyers during his time on the stand, Davis admitted cooking SFG's books, but also claimed Stanford was in on a scheme that cost investors billions.
A group of Mexican investors filed three class action suits last month against Sjoblom, Proskauer, and Chadbourne in Texas state court. The suits accuse Sjoblom and his former firms of aiding Stanford’s massive fraud by obstructing an SEC investigation into SFG and 140 other Stanford-affiliated companies around the world. (Click here for one of the three nearly-identical 94-page complaints,courtesy of Courthouse News.)
Last week, Sjoblom, Proskauer, and Chadbourne were also targeted in another suit filed by the Stanford estate's court-appointed receiver, Ralph Janvey of Dallas-based Krage & Janvey. Janvey seeks $1.8 billion in damages from the three defendants, who he claims turned a blind eye to Stanford's alleged fraud and successfully stalled an SEC inquiry into the purported Ponzi scheme for years. (Click herefor the 87-page complaint, also courtesy of Courthouse News.)"
Full Thomas Sjoblom Article and Source of this Proskauer Rose Thomas Sjoblom.
Proskauer Rose Made some Mexican Investors MADDDD, that don't sound Good.. Maybe they should join iViewit Technologies in their Federal RICO Lawsuit and Class Action Complaint against Proskauer Rose Law Firm attorneys in the Stealing of a 13 Trillion Dollar Technology.
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