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    Terry Neal lawsuit concludes with settlement by last defendant

    The civil fraud lawsuit filed by the SEC against Nevis-based offshore provider Terry Neal and five others ended on December 15 when the last defendant settled.
    Michael T. Baer was ordered by the U. S. District Court for the District of Oregon to disgorge $1.4 million in “ill-gotten gains” and barred from serving as an officer or director of a public company. The disgorgement was waived and no civil penalty was imposed “based on his demonstrated financial condition”.