A fresh dispute between the parties involved in the investigation of the $7bn Ponzi scheme allegedly operated by Sir Allen Stanford erupted this week, as US regulators objected to a move by a court-appointed official to “claw back” investor funds.

Ralph Janvey, who was appointed at the request of the US Securities and Exchange Commission to oversee the affairs of the Stanford group, has sought to sue investors to recoup the proceeds of their investments in so-called certificates of deposit issued by Stanford International Bank (SIB) in Antigua.