"I love oil! Oil means shoes and cars and purses!"

[AlCzervik]

Saturday, 06/02/07
Angry investors find elusive oilman on MTV

By KRISTIN M. HALL
Associated Press

CAMPBELLSVILLE, Ky. — Not long after entrusting millions of dollars to a former Nashville-area oilman with wells in Kentucky, the investors started asking questions: Where was the oil? Where was their money? And where was the oilman?
The investors think they got some answers on an episode of My Super Sweet 16, an MTV reality show about spoiled rich kids and their outrageously opulent birthday parties

They saw Gary Milby, who once lived in Gallatin and had his business headquarters in nearby Mt. Juliet, giving his daughter a private helicopter ride, a new BMW and a shopping spree.
Cameras followed Milby to his Kentucky oil fields, where his daughter, Ariel, exclaimed, "I love oil! Oil means shoes and cars and purses!" Pointing to a drill, Milby told her, "This one here will make over 20 barrels a day."

About 60 investors who say they heard similar promises from Milby are suing him in federal court in Nashville, accusing Milby of defrauding them of at least $4.5 million. None of the investors listed in court records is from Tennessee.
All told, Milby raised $20 million to $25 million from investors over nearly two years, the investors' lawyer estimates — even though officials in several states had demanded Milby stop selling securities in his Tennessee oil and gas companies. It appears no criminal charges have been filed against him.
Milby 'roams a lot'
Milby, 53, has become hard to find, which is why his investors and state regulators were so shocked in February to see him on My Super Sweet 16.

more at link
http://www.tennessean.com/apps/pbcs.dll/article?AID=/20070602/NEWS01/706020360

[PSPS]

1. Shades of Jimmy Joe Meeker!

[MikeNearMcChord]

6. Was he the one who claimed that

there are vast reserves of oil in Israel? I remember supposedly that was peddled over at WorldNutDaily.

[PSPS]

7. I must be getting old.

[BrklynLiberal]

2. Whose dumber; the investors, or the jerk who put his daughter's opulent Sweet 16 on TV for all to

see?

[AlCzervik]

3. equal.

[shenmue]

4. They make shoes out of oil?

Maybe I should put my sneakers in the tank. :shrug:

[Deja Q]

5. Vinyl. Plastics.

n/t

[SoCalDem]

8. and fabrics n/t