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By Emily Flitter OMAHA, Nebraska (Reuters) - From 2006 to 2009, Provident Asset Management raised $485 million from 7,700 investors who were drawn to its promises of annual returns as high as 18 percent on oil and gas assets. Law firm Mick & Associates helped. Provident paid Mick to provide "due diligence" reports to help brokers decide whether to recommend the investments to their clients. Brad Updike, a Mick energy-sector specialist, reviewed each of the 23 deals, known as private placements.
GM is under investigation by U.S. safety regulators, Congress and the U.S. Department of Justice for why it did not catch the faulty part for over a decade. GM said on Wednesday that owners of 2008-2011 models subject to the recall, which has affected 2.6 million vehicles, will receive a letter in early May confirming their inclusion in the recall. Another letter alerting them when replacement parts are available will follow. The Detroit company did not provide a more detailed number of how many of the parts have been shipped, but said the kits include ignition switches, ignition cylinders and key sets.