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Message: bankerson / Re: What ever happened to the 3rd person of PDS / Robert K. Neilson

Best I can tell, he had a side agreement with TPL that provided him personally with a percentage of the money collected from each MMP license. When Lecky stopped paying him, he all of a sudden decided that it was not in his best interests to continue being a member of the PDS board and he left TPL.

Did he jump? Or was he pushed? I'm not sure it matters, truthfully.

The absolute folly is that OUR BOD allowed him to act as the "independent member" of the PDS board. This was a guy that was instrumental in TPL's attempts to take PTSC's share of the MMP outright in his role at Relational Advisors, and then shortly after becoming the "independent" member, became an employee of TPL. Apparently it was lost on Carlton Johnson, Gloria Felcyn, David Pohl, and subsequently Cliff Flowers, that being an EMPLOYEE of one of the parties to the agreement and thus having your interests and livelihood tied to that party's success, DISqualifies you as an "INDEPENDENT" member.

Considering the prevalence of these "side" agreements that Lecky has forged with so many parties involved in the MMP and other porfolios he has, and that don't come to light except in the glare of legal proceedings, I often wonder if our BOD members might have or have had similar agreements with him that provided them personally with a portion of the revenue collected with each MMP license, or perhaps another portfolio's license revenue.

That certainly would incentive them to look the other way when Leckrone commingled or otherwised "expensed" certain questionable costs, and explain their willingness to settle any lawsuits before actual litigation, or refrain from taking all possible legal avenues that are/were present to them in pursuing eliminating Leckrone and/or increasing PTSC's percentage interests in the MMP.

Consdering all we've learned through the legal prism, that PTSC's management and BOD had preferred and attempted to shield shareholders from learning, I have often wondered if there is or was some sort of similar arrangement between Leckrone and the players at PTSC that would clearly constitute a conflict of interest and a breach of fiduciary responsibility and disclosure.

Hard to know when there is so much opaqueness out of PTSC.

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