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CHICAGO (AP) — Former top officer of the financially-troubled Midwest Capital Corp has denied knowledge of any diversion of funds Lester Brock of Deerfield says that although he was president of the firm, all decisions were made by Lawrence L. Stickell of Gales burg, the firm's sole shareholder. Brock made the statement Tues day in answer to a federal suit filed by the Small Business Ad ministrations. The suit seeks an in junction to prevent Brock, Stickell and Norman H. Weaver of Gales burg from disposing of their as sets until Midwest’s affairs are straightened out. The suit also charges the three aoith illegally diverting a $300,000 loan obtained from the Small Busi ness Administration. The firm has been placed in re ceivership and its assets frozen. Brock said in his answer that Stickell hired him and told him all he would have to do would be to follow instruction. Stickell, who has been named in several other court actions seeking recov ery of funds, entered the East Mo line State Hospital last month af ter petiion by his wife.
Newspaper Details
Moline Daily Dispatch
Moline, Illinois, US
Wed, Sep 04, 1963
Page 20
Full Page
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USA 14 Aug 2026
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