According to Bloomberg.- Investors allegedly swindled by indicted financier R. Allen Stanford can’t sue their former Stanford Financial Group Co. brokers over losses on Antiguan bank certificates, a federal judge ruled.

U.S. District Judge David Godbey in Dallas blocked investors from proceeding with lawsuits against any Stanford Financial Group company or former employee of Stanford’s organization, according to a ruling posted today on his Web site.

Godbey said that only Ralph Janvey, the court-appointed receiver for Stanford’s businesses, may sue the company’s former financial advisers for now. Godbey said all other lawsuits must wait until after Janvey’s suit against the brokers, which is pending in Dallas federal court, is resolved.

The court must balance the plaintiffs’ “desire to be first to sue or initiate arbitration against their financial advisers with the interest of all investors, who likewise want to recoup as much of their losses as possible,’’ the judge wrote.

Stanford, three of his companies and four associates were accused last year by the U.S. Securities and Exchange Commission of running a Ponzi scheme through bogus certificates of deposit at Antigua-based Stanford International Bank Ltd.

Stanford is in jail awaiting trial next January on parallel criminal charges alleging that he orchestrated a $7 billion fraud. He has denied any wrongdoing.

The criminal case is U.S. v. Stanford, 09cr342, U.S. District Court, Southern District of Texas (Houston). The SEC case is Securities and Exchange Commission v. Stanford International Bank, 09cv298, U.S. District Court, Northern District of Texas (Dallas).