Stanford's daughter to vacate $1.3M condo

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by Associated Press

wfaa.com

Posted on January 29, 2010 at 11:42 AM

The daughter of jailed Texas businessman R. Allen Stanford has dropped her fight to stay in her $1.3 million Houston condominium.

An attorney working for court-appointed receiver Ralph Janvey said Thursday that Randi Stanford has agreed to move out of the 2,800-square-foot condo by March 31.

Stanford was to appear at a hearing Thursday in federal court in Dallas to show why she should not be held in contempt for refusing to cooperate with government efforts to sell the condo. The condo was a gift from her father, who is accused of leading a $7 billion Ponzi scheme.

Janvey plans to sell the condo and direct the proceeds to allegedly defrauded investors. Randi Stanford's attorney didn't return messages from The Associated Press.

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