Victims of Allen Stanford's alleged $7bn Ponzi scheme are still waiting for payouts while the receiver who's liquidating the company has done quite well, thank you.  So look who's now investigating. 

SEC Inspector General H. David Kotz has confirmed he's looking into the agency's oversight of the receiver.  Attorneys allege that the receiver, Dallas attorney Ralph Janvey, has recovered just $119.7mn, while charging $118.2mn for expenses and fees.  The difference - about $1.5mn - is all that's available for investors against their $7bn loss. 

The complaint about Janvey is that he has spent more time looking out for the court-appointed Sanford investors committee rather than the actual investors.  And he's spent more time generating fees for the 4 attorneys and two individual investors on the committee than on recovering funds for the 28,000 investors affected by the scheme. 

Kotz had previously looked into SEC improprieties in its handling of the case.  He found that the SEC staff was aware of problems at Stanford as far back as 1997.   [CNBC, 7/21/11]