n Investors with accounts valued at $100,000 or less could get access as soon as Friday.

By Dennis Seid

Daily Journal

Some Stanford Financial investors could regain access to their frozen accounts as early as Friday.

Mississippi Secretary of State Delbert Hosemann said Wednesday that the receiver overseeing the assets of Stanford indicated that his office would try to release payments for investors who have $100,000 and under on Friday.

Earlier this week, Dallas attorney Ralph Janvey, the court-appointed receiver, said he was planning to start releasing those accounts by March 16.

"This is some very good news, which affects about 3,700 accounts in Mississippi," Hosemann said.

His office has identified more than 4,500 Mississippians as having Stanford accounts, with assets totaling nearly $391 million. About 147 have accounts tied to international CDs sold by Stanford. Those CDs are at the heart of what the Securities and Exchange Commission says is at $9.2 billion Ponzi scheme to defraud investors.

In addition to releasing the funds early, the receiver may increase the threshold of the accounts.

"But there were no figures thrown out, so we don't know what that might be," Hosemann said.

Also, Hosemann said Mississippi, Texas, Florida, Louisiana and Tennessee were named to a working group that will stay in contact with the receiver to keep informed.

"We will also be able to bring to the receiver any hardship cases that he can look at on an individual basis," Hosemann said.

Whether or not holders of what Hosemann calls the "toxic CDs" will get any of their money back remains a big question.



Contact Dennis Seid at (662) 678-1578 or dennis.seid@djournal.com.