When the SEC obtained their judgments, the SEC was in the beginning stages to search and seize assets.
Kevin and Bill asked the SEC to not collect on the judgment...and allow CMKM to go after the assets. The reasoning was to allow CMKM the ability to collect and rekindle the company.
The SEC stopped their collection process. Over $2 million dollars was recovered by Kevin and Bill -- and they didn't even keep a clean general ledger. (I know, because I saw the GL.) Money disappeared with Kevin and Bill. Steve was just the end product.
The SEC had the ability to go after the money in China. But for some reason that I don't know...the SEC didn't pursue in that area.
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