Mr. Breinholt is permanently enjoined from further violations of Idaho's Uniform Security act. Judgment in the amount of $5,000,000, plus penalties of $240,000, have been entered against him in favor of the Department.
The terms are that Mr. Breinholt will pay the Department $1,000 per month for the next ten years, for a total payment of $120,000. The Dept. will prorate that amount and send it to investors.
If Mr. Breinholt makes all his payments, on time, at the end of ten years the Department will file a satisfaction of judgment and consider the matter closed. Penalties are suspended as long as Mr. Breinholt makes his payments, and will be waived once he has paid the $120,000.
If Mr. Breinholt fails to make all payments, on time, he will become responsible for the full judgment and penalties.
Questions can be directed to Chief Investigator Jim Burns at (208) 332-8080.
2 comments:
What does this mean to the people who have money tied up or frozen in Streamline Financial? Will we ever be refunded our money?
Streamline sent most of the money to Annuit Ceoptis in Utah. We believe that money was likewise sent up a chain to another Ponzi scheme.
The likelihood that Streamline will get much money back from Annuit is small.
Unfortunately, I think that recovering money from Streamline is also not likely.
Post a Comment