17 Years, Half Our Savings Lost: Release the $8.1M and the 12th Distribution Now
Petition for Immediate and Fair Distribution of Restitution to Survivors of the Stanford Financial Fraud

We, the undersigned SURVIVORS of the Stanford Financial fraud, have waited 17 years for our restitution. We are not victims. We are survivors. And we will not give up.

1. THE $8.1 MILLION SWISS FUNDS SCHEME
What happened:

• December 17, 2025: The Receiver receives $8.1 million in Swiss funds from the Joint Liquidators. The 2013 Cross-Border Protocol (Section 8.4) requires these funds to be distributed "only to Creditor-victims" – not to administrative costs.
• January 15, 2026: The Receiver publicly announces receipt, confirming the transfer "pursuant to the Cross-Border Protocol."
• March 9, 2026: The Receiver files the Final Distribution Schedule for $339 million. The $8.1 million are not included.
• Today: The Receiver has held these funds for four months. No explanation. No distribution plan.

What will happen next:
The Receiver will likely ask the Court to approve a separate "13th Distribution" for these funds. He will likely argue that there are no other funds available to pay for the administrative costs of this new distribution. If the Court agrees, the $8.1 million itself will be used to cover those costs.

The result:

• If included in the 12th Distribution: $8.1 million goes directly to survivors, minimal additional costs.
•  If a separate 13th Distribution: A significant portion of the $8.1 million will be consumed by administrative fees – money that was supposed to go to survivors.

Who benefits from a separate 13th Distribution? Gilardi & Co. and other professionals, who will charge new fees for processing the distribution.

Who loses? The survivors, who will see a large sum of money that belongs to them disappear into administrative costs.

Critical point: The Receiver knew about these funds. He held them for three months before filing the Final Distribution Schedule (December 17, 2025 – March 9, 2026). He chose not to include them. Now, a separate distribution would consume a substantial amount of these funds in unnecessary fees – even though the 2013 Protocol says these funds are for victims, not administrative costs. This is not an accident. This is a choice.

2. THE 12TH DISTRIBUTION – NO CONFIRMED PAYMENTS
What the Receiver announced (April 6, 2026):
"On April 3, 2026, the Receiver issued payments to over 2,000 claimant groups totaling approximately $47.5 million."

What is actually happening:

• No survivor has confirmed receiving any payment.
• Gilardi & Co. responds only: "We do not know exactly when a particular payment will be processed."
• Survivors who called Gilardi were told they "do not have any order to issue checks."
• Law firms representing survivors confirmed they received funds on April 6 but will take up to 60 days to pay their clients—and will do so only after deducting their fees.

3. WHAT THE NUMBERS REVEAL
According to the Receiver's own August 2025 Report (Exhibit 1) and his March 9, 2026 filing (Document 3573):

• Total recovered by the Receiver: $2.82 billion
• Distributed to survivors (1st–11th distributions): $1.65 billion
• 12th Distribution (Final Distribution): $339.4 million
• Professional fees and expenses (including OSIC): $506.5 million
• Other administrative expenses: $68.4 million
• Total fees and expenses: $575 million

The bottom line:

After 17 years, here is what survivors have actually received from the US Receivership as a percentage of their allowed claims:

• 1st to 11th Distributions (USA): 40.32%
• 12th Distribution (USA, proposed): 7.10%
• Total USA (including proposed 12th): 47.42%

From the Antigua Joint Liquidators:

• Three distributions to date: 2.60%

GRAND TOTAL RECOVERED TO DATE: 50.02% of allowed claims

Not a single dollar of interest has been paid, because interest was deducted as "Ponzi scheme profits."

The Receiver and his professionals have collected $575 million in fees and expenses – more than one-third of what survivors have received to date ($1.65 billion).

For comparison: the Madoff Trustee recovered $15.38 billion for victims of a $50 billion fraud and charged zero in fees – while the Stanford Receiver recovered only $2.82 billion from a $7 billion fraud and charged $575 million in fees and expenses.

4. WHO WE ARE
We are survivors. We have endured 17 years of waiting. Many have died waiting. But we who remain continue to fight.

We are elderly survivors. We are sick survivors. We are families who lost everything. We come from:

• Latin America: Venezuela, Colombia, Mexico, Argentina, Peru, Chile, Ecuador, Panama, Costa Rica, Brazil
•  United States: Florida, Texas, New York, California
• Europe: Spain, United Kingdom, Switzerland, Germany
• Asia: Philippines, China, Japan
• And other countries around the world

Our voices:

• Maria, age 72, Venezuela: "I was 54 when Stanford closed. I am almost 72 now. I have received nothing. I don't have many years left to wait."
• Fred, age 90, USA: "At 90 I am confused. Please get me going in the right direction. I cannot wait much longer."
• Isa, Chile: "Regular mail in Chile does not work. I have received no response. I feel abandoned."
• Hernan: "I called Gilardi. They have no order to issue checks. They don't know when they will. How is this possible?"
• Doraida: "The administrators have grown fat on this case. They don't want to let go of the golden goose. We need the Court to step in."
• Antonio: "Called Gilardi, April 21: No info. Call back in a month. Disbursements once a month. 5 emails, no reply. Frustrating."
  

5. WHAT WE DEMAND

1.  A written explanation of why the $8.1 million Swiss funds were excluded from the Final Distribution Schedule.
2. That these funds be distributed to survivors without unnecessary administrative costs. The 2013 Protocol requires these funds to go "only to Creditor-victims" – not to Gilardi & Co. or other professionals.
3. A transparent schedule for the remaining 12th Distribution payments.
4. Written answers to the 12 specific questions raised in COViSAL's Third Request (April 15, 2026).
5. A full accounting of all attorney and professional fees charged to the Receivership.
6. A clarification from the Court that the label "Final Distribution" shall not prevent the future distribution of the $8.1 million Swiss funds or any additional recoveries from Antigua (including the UBP litigation or remaining assets). The Receiver had these funds before filing the Final Distribution Schedule. Excluding them does not make the distribution final.
7. Direct communication between the Receiver/Claims Agent and survivors, including a verifiable method (email or portal) for survivors inside and outside the United States to update their contact information and check payment status (check or wire transfer).

CONCLUSION
We are not asking for charity. We are asking for what is rightfully ours.

We have waited 17 years. Many have died waiting. We will not accept further delays or silence.

Add your signature to demand justice.

Sincerely,

Jaime R. Escalona
Founder, COViSAL (Coalition of Stanford Survivors)
https://www.covisal.org/
Twitter: @COViSAL