Lloyd S Legal Fees Coverage Suit Begins This Week
The insurance company for indicted financier R. Allen Stanford would like to be released from its responsibility to pay the massive legal fees mounting on Stanford’s behalf. Stanford and two of his former company executives stand accused of bilking investors out of $7 billion in a massive pyramid scheme. Insurer Lloyd’s of London argued to a federal judge the accused lied to investors and falsified financial statements and therefore should be disqualified from having their legal fess paid under the insurance policy....