Oilman's alleged fraud tipped by MTV

[The Straight Story]

Oilman's alleged fraud tipped by MTV

NASHVILLE, Dec. 4 (UPI) -- An MTV reality show about a Tennessee oilman's daughter may have tipped off investors they allegedly were being defrauded, authorities say.

The U.S. Attorney's Office in Nashville said Gary Milby, 55, former owner of Mid America Energy Co., was indicted by a federal grand jury on three counts of mail fraud, three counts of money laundering and one count of securities fraud, The (Nashville) Tennessean reported Friday.

The indictment in the multimillion-dollar case alleges Milby, who had lived in Gallatin and moved to Campbellsville, Ky., inflated claims on returns from wells. The wells were to be drilled under limited partnerships across Kentucky.

The indictment alleges he used investors' money to pay company salaries and for personal spending instead of investing it in gas and oil production, the indictment says. Milby wired $100,000 to an account in the Turks and Caicos Islands, which offers tax-exempt status.

http://www.upi.com/Top_News/US/2009/12/04/Oilmans-alleged-fraud-tipped-by-MTV/UPI-35361259971721/

Why do they have an 'M' in mtv??

[zbdent]

1. M in MTV same reason as F in KFC ...

branding ... would get them less recognition if they changed it to reflect what they are now ...

"fried" is not so good to business these days, so you can't have "Kentucky Fried Chicken" ...

MTV can't go to RTV ... "reality" TV ... or some other stuff ... maybe rebrand themselves as "Entertainment Tonight Light" ...

[PuraVidaDreamin]

2. "empteevee"

nothing there, thats why.

[ck4829]

3. When it takes MTV to uncover fraud, then you know your government is messed up

K&R.