Aluf Holdings Inc (AHIX)

[Maria56]

I could go into detail about how Milligan wasn't head of 21st Century at the time of the sale and how his share was only 6% of $294,542,000 in shares according to a lawsuit he and his co-plaintiffs filed, and even how I don't believe that the wife named in that lawsuit is his current wife and who knows how that divorce settlement went...

But the story doesn’t end there. I'm just guessing, mind, but if Glenn has money to cough up for the acquisitions, it's prolly NOT from the sale of his biggest known success.

From the SunSentinel:

WASHINGTON — A retired Florida couple whose brokerage account was liquidated to cover a loan have won $1 million from J.P. Morgan Chase & Co. in arbitration.
The couple, Glenn and Ava Milligan of Boca Raton, sought advice from J.P. Morgan's West Palm Beach office in 2000 after Glenn Milligan sold his company, 21st Century Telecom Group, to RCN Corp. As part of the transaction, he had received 203,639 shares of RCN worth about $5 million.
The Milligans had never had a brokerage account before investing with J.P. Morgan, said their attorney, David Smith of Winston-Salem, N.C.
Smith said the couple told J.P. Morgan that they did not want to put their money in speculative or aggressive investments.
Yet from August 2000 to April 2001, when J.P. Morgan liquidated the account, the brokerage never recommended diversifying out of the RCN stock or hedging it, said Smith; it only offered a $1.5 million loan for a home, backed by the stock.
A spokeswoman for J.P. Morgan Chase did not immediately provide a comment on the case, which was decided late last month by a National Association of Securities Dealers panel.
The account was liquidated to cover the loan balance after the value of the stock plummeted, from $27 a share when they had received it to $4 to $5. The Princeton, N.J., company's stock traded Wednesday at 89 cents a share.
The Milligans had originally sought $5 million in compensatory damages from J.P. Morgan, close to the original value of their stock. The arbitration panel awarded $1 million based upon a claim of negligence.

http://articles.sun-sentinel.com/2003-05-15/business/0305141062_1_morgan-rcn-glenn-milligan