On December 20, 1999, the Court entered the Order by U.S. District Court Judge J. S. Letts granting the October 8, 1999 plaintiffs’ motion for summary judgment. Sums in the amount of $51,065,688.63, $18,379,105.32 and $32,686,583.31 were recovered from certain defendants. On November 1, 2004, the case was removed from the active caseload. The case is now closed.

According to a press release dated February 2, 1992, investors, many of them elderly Southern Californians, poured $150 million into the company, the lawsuit contends, and have not received back any of their principal. The lawsuit also links Mustang to the operation of two Beverly Hills companies that federal authorities raided just before Christmas. The Securities and Exchange Commission is suing those firms, KS Resources and Lazar, Frederick & Co., to recoup $35 million allegedly taken from investors in a similar Ponzi scheme. Both firms denied any wrongdoing. The complaint states that the SEC, Justice Department, the Internal Revenue Service and the postal inspector, is investigating the company. Mustang, through several brokers also named as defendants, has sold partnership interests to about 6,000 investors since 1987, and KS Resources, through Lazar Frederick, sold similar investments to more than 2,000 people, according to the lawsuits. The lawsuit asserts that "very little" of the $150 million raised by Mustang was ever invested in gas and oil properties. Instead, the suit contends, Stein and others took the money for themselves and for earlier investors who were owed interest.