Legal actions against Inman

The top post says Inman will be brought to justice and that his and other assets will be seized and returned to investors. Arent we some of his investors? Wouldnt this then be promising news that some funds may be obtainable?

That is certainly what we all hope and expect yes!

Originally Posted by Unregistered

The top post says Inman will be brought to justice and that his and other assets will be seized and returned to investors. Arent we some of his investors? Wouldnt this then be promising news that some funds may be obtainable?

Yes and no. Assuming he is found guilty, the process of actually distributing those assets is another story. OJ still hasn't paid the Goldmans a cent, and that trial ended ten years ago.

Like someone said earlier, he might have already blown a lot of it.

[George]

Actually, I'm looking more for "poetic justice" than I am in recovering my small investments...meaning I hope that the Inmanns loose every damn thing they own including their homes, cars, and all assets. Why so harsh ? Well, it's my understanding that their scam has caused many others to losse everything..possibly including marriages, and friends.

But on the litigation side...these matters take three to four years to resolve, and when its all said and done, by the time legal fees, court costs, IRS levies, and SEC fines, or whatever else the Government throws in the pile of charges, there won't be much left to return to the members. At the most I expect ten cents on the dollar (10% of actual investment)
I will be happy to see Kim Inman's picture as INMATE #OI812, Indiana correctional facility ( I think it's located in the next cornfield over from where he had his famous FISH FRY about 3 years ago !)

10% on the dollar is Nervana compared to what STAy paid us.

I was also unfortunately involved as an "investor" in that large scam "Architects of Wine" the history of which is also chronicled on WLD's site. But in that case recovery by WLD was 100% of principal, so don't assume the worst.

It took 24 months though before WLD recovered the funds and before we got paid, and almost 20 months before the first arrests occurred--but at least they got most of the culprits!

[YMSurvivor]

Very, VERY encouraging. Thanks again!

Originally Posted by Unregistered

I was also unfortunately involved as an "investor" in that large scam "Architects of Wine" the history of which is also chronicled on WLD's site. But in that case recovery by WLD was 100% of principal, so don't assume the worst.

It took 24 months though before WLD recovered the funds and before we got paid, and almost 20 months before the first arrests occurred--but at least they got most of the culprits!

Here's the latest---an e-mail posted in our back office from STA management.

From : SuccessThruAds
Sent on : 3/26/2007 3:19:46 PM

Subject : STA CEASES BUSINESS OPERATIONS EFFECTIVE 3/1/2007
Message:
Dear IBA,

Since late 2005, Success Through Advertising (STA) has experienced severe cash flow problems due to several factors including a lack of sufficient sales. The inability to generate sufficient cash flows to maintain ordinary business operations has resulted in continuing operating losses and the inability to pay debts as they come due. As a result, and with considerable disappointment, STA determined that it could no longer operate and closed its business operations effective March 1, 2007. This decision was announced during our February 27, 2007 conference call.

STA is currently using its best efforts to attempt to sell all its assets in an orderly fashion to realize the highest possible value for its creditors. STA is in preliminary discussions with certain individuals to sell certain intellectual property and other assets of STA. STA is currently providing these individuals with information necessary for them to conduct due diligence related to a possible transaction. It is possible, but not certain, that these individuals may assume certain liabilities of STA. At this time, it is uncertain whether STA will be able to sell sufficient assets to these individuals or any other persons to provide any payment to its creditors.

STA will attempt to maintain its STARetail.biz website and the Back Office during the winding up of its business affairs to allow Independent Business Associates to use their advertising credits and to access their reports. STA will contact you in the future if there will be a distribution to STA creditors OR to provide you with an update of its sale efforts.

Sincerely,
STA Management

What exactly is the hidden message here in the above letter? Dosn't smell good to me.

It seems his attempt to make it look as a business failure, rather than the scam that it is.