Ralph Janvey v. Golf Channel, Incorporated

Stanford International Bank, Limited paid $5.9 million to The Golf Channel, Inc., in exchange for a range of advertising services aimed at recruiting additional investors into Stanford’s multi-billion dollar Ponzi scheme. 1 After the scheme was uncovered by the SEC and the district court seized Stanford’s assets, the court-appointed receiver filed suit under the Texas Uniform Fraudulent Transfer Act (TUFTA) to recover the $5.9 million paid to Golf Channel. The district court granted Golf Channel’s motion for summary judgment, having determined that although Stanford’s payments were fraudulent…