Skip to main content

COVISAL VICTIMS' IMPACT STATEMENT - Laura Pendergest-Holt Sentencing


June 25, 2012

The Honorable David Hittner
United States District Court
Southern District of Texas
515 Rusk Street, Room 8509
Houston, Texas 77002

                                              Ref. Criminal Case No. H -09-342-2
Honorable Judge Hittner,
We non-US citizens, victims of the fraud perpetrated by R. Allen Stanford and his accomplices, gathered together to defend our rights as the Coalición Víctimas de Stanford América Latina (COViSAL); respectfully address you to present our Victims’ Impact Statement.
COViSAL is an organization in which only account holders of the Certificates of Deposit (CDs) participate. The nature of COVISAL’s work is research, information and dissemination. It was created with the intention to gather all non-US victims, distributed in 112 countries around the world, who represent more than 84.34% of the total Stanford victims. Our objective is to fight for the recovery of our money that was stolen by R. Allen Stanford and his accomplices under the indifferent eye of the regulatory authorities who could have stopped him many years ago.
Of the total Stanford’s victims, 62% are from Latin American countries lacking medical and social security systems to guarantee proper treatments and a dignified retirement. In order to preserve their patrimony from devaluations, high inflation and the arbitrary decisions from their governments, these victims purchased the CDs to ensure a monthly income to cover medical and living expenses.
COViSAL is directed by its founder and leader, Mr. Jaime R. Escalona. We have more than 500 hundreds duly registered members, and over 1,000 non-registered members from the following regions: Venezuela, Mexico, Peru, Colombia, Chile, Bolivia, Ecuador, Argentina, Brazil, Guyana, Panama, Costa Rica, Nicaragua, El Salvador, Honduras, Guatemala, Aruba, Curacao, Suriname, St. Marteen, Belize, the United States, Canada, England, France, Spain, Portugal, and South Africa. Our total losses are in the range of several hundreds of millions.
The majority of affected victims are modest people, families with children, some ill or suffering autism and with other special needs that now are unable to pay for their medical treatments. Many are elderly, sick or close to retirement – all desperate because of the devastating economic situation due to the loss of their savings.
More than three (3) years have passed since our life savings were stolen. This is too much time for the thousands of victims who are immersed in endless agony and desperation because they lost their life-savings. Many have become ill as a consequence of their loss, others have already died, and many have developed cancer and other physical and emotional illnesses.
During these tragic years, we, the victims, have sadly watched the possibility of receiving an economic relief that could mitigate our loses begin to vanish in the millions of dollars of professional fees, expenses and useless legal fights between the Joint Liquidators and the U.S. Receiver. Meanwhile, thousands of victims suffer because they are not able to pay for their medical treatments and living expenses.
Ms. Laura Pendergest-Holt, former Chief Investment Officer for Stanford Financial Group (SFG) of Houston, was one of Allen Stanford’s accomplices. Her heartless actions, to deceive and steal the retirement savings belonging to thousands of regular people around the world, were coldly calculated and premeditated with complete disregard for the horrendous consequences.
Ms. Holt originally was charged in 2009 with 21 counts of fraud, conspiracy and obstruction. She deserves the maximum sentence allowed by the law; not a plea deal calling for three years in prison and three years of supervised release, and $250,000 fine for a single count of obstruction in connection to her sworn testimony. Among other things, she was a willing participant who had actual knowledge of the fraud being committed and conspired to defraud investors by selling them $7 billion in CDs issued by Stanford International Bank, and certainly one of her motives was to enrich herself. Her actions as an accomplice of this horrendous crime resulted in the deaths of many people, and the destruction of families’ lives that today continue to suffer the consequences. Ms. Holt, ran free and enjoyed life with the stolen money from thousands of innocent families. She cannot get away with an easy and accommodating plea agreement.
Please, Judge Hittner, do not accept Ms. Pendergest-Holt’s plea agreement, she deserves the full weight of the law for the crimes she committed against the innocent and unaware.
We pray to God that without further hindrance, the rights of the victims will prevail, and conscience will be the instrument to impart justice.
/s/Jaime R. Escalona
Jaime R. Escalona
On behalf of Covisal
Coalición Víctimas de Stanford América Latina (COVISAL)
Twitter: @COVISAL
Texas: (512) 377 6133
Caracas, Venezuela (58 412) 617-2438

Popular posts from this blog

COViSAL protesta acuerdo con Hunton y Williams LLP por $34 millones de dólares, de los cuales $8,5 millones son para abogados.

Por Restitutio

Traducción al español de la versión original en inglés
20 de septiembre, 2017
Secretaría del Tribunal United States District Court Northern District of Texas 1100 Commerce Street Dallas, Texas 75242
ATN: Cámara delHonorable David Godbey
SEC Acción Civil: 3:09-CV-0298-N
Honorable Juez:
Le escribimos para expresar nuestra objeción y protesta sobre los acuerdos del Administrador Judicial, el Comité Oficial de Inversionistas de Stanford y otros, relacionados con el caso Stanford. Estos acuerdos generan millones de dólares en honorarios para los abogados y centavos para las familias afectadas. En esta instancia protestamos enfáticamente el acuerdo propuesto con Hunton y Williams LLP por $34 millones de dólares, de los cuales $8,5 millones son para honorarios de abogados.
Durante los últimos 8 años los ahorristas de Stanford han recibido menos del uno por ciento de sus pérdidas de las distribuciones anunciadas y han tenido que esperar casi un año por cada distribución. Al mismo t…

Vampire Squid Goldman Sachs rescues infamous autocrat Maduro of Venezuela

Two Vile Names, One Sweetheart Deal: Goldman Bails Out Maduro
May 31, 2017
The Vampire Squid rescues an infamous autocrat

Who says two amoral and corrupt institutions with diametrically opposing ideologies can't collaborate to sink even lower together?

RELATEDMatt Taibbi: The Vampire Squid Occupies Trump's White House
After running against Goldman as a candidate, Donald Trump licks the boots of the world's largest investment bank Goldman Sachs, infamous investment bank and symbol of international predatory capitalism, has made a devil's bargain with Nicolás Maduro, the infamous left-wing dictator of Venezuela who claims to despise companies just like Goldman. As Forbes writes: "What happened is that the Venezuelan Treasury owned some bonds issued by PDVSA, the national oil company. They sold those bonds to Goldman Sachs at a serious discount to face value." Maduro's authoritarian government has been rocked by protests this spring thanks to widespread econom…

COViSAL Estatus caso Stanford a Diciembre 2018

For Restitution
23 de diciembre, 2017
Estimados amigos:
Anexo un resumen del estatus del caso Stanford en USA y en Antigua.
ADMINISTRACION JUDICIAL DEL STANFORD FINANCIAL GROUP, U.S.A. (Liderada por el síndico Ralph Janvey, su abogado líder Kevin Sadler, su agente de distribución Gilardi & Co., y los abogados del comité oficial de inversionistas)
1.Recuperaciones - $407,8 millones (al 30 de abril, 2017)
2.Honorarios profesionales y gastos - $195,8 millones (al 30 de abril 2017)
3.Distribuciones a depositantes - $94,2 millones 
Hasta la fecha hemos tenido cuatro distribuciones oficiales:
a) Primera distribución interina de $55 millones (de dinero en efectivo disponible en el patrimonio) fue aprobada el 30 de mayo, 2013; 16 listas de pagos fueron publicadas desde el 20 de agosto 2013 hasta el 27 de abril 2017. A la fecha han distribuido $41,2 millones del total y todavía hay depositantes por recibir su pago de esta distribución. 
b) Segunda distribuci…