Krautheim was introduced to me on a conference call that Plant hosted in August, 2005. Plant built him up to be a good friend who was in a business that he preferred not be made public. If you ever looked at Krautheim's company website (the name escapes me at the minute, Tiger something), it seemed to indicate that Plant was possibly telling the truth about this.
I don't know for sure what Krautheim does for a living, but if Plant assertion was correct, Kraitheim has, or once had, plenty of cash. It was that kind of business.
Knowing Plant as I do, Krautheim was a director in name only. At least that's my guess. I seriously doubt Plant ever had a director's meeting. I seriously doubt Plant ever asked anyone's opinion on what he should do. And if such a meeting was ever held, I'll bet my potential stock recovery money (that's a laugh) that the meetings were 99% social and 1% business at best. In other words, I'm willing to bet Krautheim was largely uninvolved and completely unaware of the scam. Yeah, he wasa director and should have been more diligent. But Plant was in Utah and Krautheim was in Miami Beach. He may be tough to recover damages from.
The Jim Plant I knew was clueless as a manager. He was completely unwilling to consider anyone's opinion or recommendations. Jim Plant was a one man show. In the end, he managed to con Ruth into helping him (I can only guess at those details). But otherwise, he listened to no one and did as he pleased.
If Krautheim was like Heaton, they both trusted Plant and never considered that something was wrong until it was too late. I was surprised to hear you say that Heaton received notice from the Feds months before the indictment came down and did nothing. If that's true, and Heaton did actually receive the Fed's document and then ignored it, he's a bigger moron than even I thought he was.
As for Flinders, my sources tell me she was clueless then and is clueless now. It would be like suing the mentally disabled - we'll get nothing and look bad doing it.
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