Lloyd’s insurers in Stanford case

Lloyd’s of London insurers will today try to save themselves $100m (£64m) in payouts to alleged fraudster Allen Stanford and his three associates by proving they are guilty of money laundering. Establishing guilt would mean the insurance companies will be able to begin clawing back the Stanford Financial?Group executives’ legal bills. Stanford, Laura Pendergest-Holt, Gilbert Lopez and Mark?Kuhrt were last year accused by the Securities and Exchange Commission of running a $8bn Ponzi scheme by selling fake deposit papers.