$138M??

[the-real-steve]

So not only are these investors out the money, they are the proud new owners of a bunch of ATMs that are accruing fines of $100,000 a day? I wonder if the group of investors, as the legal owners, might somehow be on the hook for those fines. That would seem like a new low in the world of plain people's investments gone bad.

I would imagine not, because the judge would want him to make good on the investors, not punish them.

[JohnH]

So not only are these investors out the money, they are the proud new owners of a bunch of ATMs that are accruing fines of $100,000 a day? I wonder if the group of investors, as the legal owners, might somehow be on the hook for those fines. That would seem like a new low in the world of plain people's investments gone bad.

I’m going to assume it’s set up as an llc or corporation so their losses are limited to the value of their shares.

Is it possible for them to not only lose money but be liable for the fines?

Only under very specific statutes

As a corporate officer when I file sales tax returns I have to sign that I ageee to be personally liable if I knowingly file false information. However I am not liable to pay the bill

[Ken]

I’m going to assume it’s set up as an llc or corporation so their losses are limited to the value of their shares.

Is it possible for them to not only lose money but be liable for the fines?

Only under very specific statutes

As a corporate officer when I file sales tax returns I have to sign that I ageee to be personally liable if I knowingly file false information. However I am not liable to pay the bill

The company could very well have assets that are not limited to the value of the shares. Such as company bank accounts, and other assets including property. In other words, even if you zero out the value of the shares, there are probably still company assets of some sort including the ATM machines themselves. The government could take any of that to pay for fines but they would have to fight with other creditors.

[JohnH]

I would imagine most companies have value besides the cash from the par value of the shares

[the-real-steve]

https://www.wgal.com/article/south-cent ... n/63267859

[the-real-steve]

I just saw a headline that the damages could exceed $300M. Oooof.

[Grace]

I just saw a headline that the damages could exceed $300M. Oooof.

Dan Heller avoided prison time. Even though Heller's company probably messed up majorly, if you get your info from Lancaster Online, don't believe everything they write. They are well known to misconstrue information and lie. The only thing I can be sure is correct, is the fact Heller is the son of a Mennonite minister and the grandson of another Mennonite minister (who is deceased).

[the-real-steve]

I just saw a headline that the damages could exceed $300M. Oooof.

Dan Heller avoided prison time. Even though Heller's company probably messed up majorly, if you get your info from Lancaster Online, don't believe everything they write. They are well known to misconstrue information and lie. The only thing I can be sure is correct, is the fact Heller is the son of a Mennonite minister and the grandson of another Mennonite minister (who is deceased).

You mean Daryl. There is a brother named Dan.

[Grace]

I just saw a headline that the damages could exceed $300M. Oooof.

Dan Heller avoided prison time. Even though Heller's company probably messed up majorly, if you get your info from Lancaster Online, don't believe everything they write. They are well known to misconstrue information and lie. The only thing I can be sure is correct, is the fact Heller is the son of a Mennonite minister and the grandson of another Mennonite minister (who is deceased).

You mean Daryl. There is a brother named Dan.

Yes, I meant Daryl. Sorry about that. And there is a brother Dan.

[the-real-steve]

Update.

https://lancasteronline.com/business/lo ... %20Reading