SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
EDWARD S.
DIGGES, JR.; NEXSTAR COMMUNICATIONS, LLC;
TMT EQUIPMENT COMPANY, LLC; TMT MANAGEMENT GROUP, LLC; POSA, LLC; POSA TMT,
LLC; TELEVEST GROUP, LLC; AND SPIN DRIFT, LLC,
Defendants,
RECENT DEVELOPMENTS, MOTION TO AUTHORIZE RECEIVER TO PROCEED WITH DISTRIBUTION TO INVESTORS AND IMPORTANT NOTICE TO IRA INVESTORS
On December 2, 2008, the Receiver mailed a letter to each investor along with the Motion to Authorize the Receiver to Proceed with Distribution to Investors, Schedule of Proposed Allowed Claim Amounts and Proposed Distribution Amounts (Exhibit 5), and Schedule of Known Investors who did not Submit Claims (Exhibit 6). The letter can be viewed by clicking the "Communications" tab above. As indicated in the December 2, 2008 letter, any objection to the Motion to Authorize or the allowed investor claim amount must be submitted to the Receiver in writing at the address below and postmarked no later than fourteen (14) days from the date of the December 2, 2008 letter.
James D. Silver, as Receiver
c/o Conrad Scherer
633 S. Federal Highway
Ft. Lauderdale, FL 33301
IRA Investors: The IRS Form W-4P was inadvertently omitted from the December 2, 2008 letter. However, a copy of the IRS Form W4-P can be downloaded from this website by clicking the "Legal Documents" tab above and then clicking Download next to "W4-P."
As indicated on the December 2, 2008 letter, IRA investors may elect not to have withholding apply to their distribution by filling out, checking the box on line 1, signing and dating IRS Form W-4P and mailing it to:
James D. Silver, Receiver
c/o Kapila and Company
1000 South Federal Highway, Suite 200
Fort Lauderdale, FL 33316
CLAIMS PROCEDURES, AND DEADLINE FOR INVESTORS TO SUBMIT THEIR CLAIMS
By letter dated March 21, 2008, the Receiver notified investors of the Court’s February 25, 2008 Order, which established the May 16, 2008 deadline for investors to submit their claims, and provided information relating to claims procedures in this matter. IT IS EXTREMELY IMPORTANT THAT ALL INVESTORS REVIEW THE RECEIVER 'S MARCH 21, 2008 LETTER. The letter can be viewed by clicking on the “Communications” tab above. The Receiver's letter also enclosed the claims form, and a claims amendment form in the event that an investor needs to amend a claims form.
On February 20, 2008 the Receiver submitted a Status Report to the Court. The Status Report, together with the Court’s February 25, 2008 Order, provide significant information regarding the current status of the Receivership. These documents can be viewed by clicking on the “Legal Documents” tab above and scrolling down to the applicable dates.
FILING OF SEC COMPLAINT AND APPOINTMENT OF RECEIVER
On February 2, 2006, the Securities and Exchange Commission (SEC) filed a Complaint against the following individuals and entities: EDWARD S. DIGGES, JR.; NEXSTAR COMMUNICATIONS, LLC; TMT EQUIPMENT COMPANY, LLC; TMT MANAGEMENT GROUP, LLC; POSA, LLC; POSA TMT, LLC; TELEVEST COMMUNICATIONS, LLC; TELEVEST GROUP, LLC; and SPIN DRIFT, LLC.
On February 14, 2006, the United States District Court, Middle District of Florida, issued an ORDER GRANTING PERMANENT INJUNCTION, FREEZING ASSETS, APPOINTING A RECEIVER AND GRANTING OTHER ANCILLARY RELIEF, appointing James D. Silver as receiver for the above- named entities.Inquiries should be addressed to:
James D. Silver, as Receiver
c/o Conrad Scherer
633 S. Federal Highway
Ft. Lauderdale, FL 33301
Email: jds@conradscherer.com