Neulan D. Midkiff - Cooling off the Marks
On March 20th, 2006 the SEC moved for a finding of contempt against Neulan D. Midkiff. One of the more interesting exhibits tendered into evidence was Neulan D. Midkiff's attempt to "pay" the SEC $100,000,000.00 to settle the case against him.
Mr. Midkiff has presented the SEC with a "foreign bill of exchange" which purportedly allows the SEC to draw up to $100,000,000.00 to settle the charges against him. Hmm, woudln't a certified cheque and plea bargain been a little easier?
Why is Midkiff engaging in this further chicanery?
The Receiver is attempting to locate as many investors in this scheme as possible. If Midkiff can convince his marks to keep quiet, it will be one less liability to account for, one more less dollar to pay back. In my opinion, Midkiff hopes to convince a number of his investors that he has "settled" with the SEC and therefore there is no need for them to contact the Receiver: their money will be returned to them in due course.
Comments
Which schemers are you talking about?
Posted by: admin
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July 1, 2009 5:10 PM
We all wonder why Midkiff and Correll went to prison,
but the schemers and scammers in Texas are still out free and having a good time and playing tennis and golf every day ?
Posted by: Blair Hendricks | June 28, 2009 10:31 AM