What's all this talk about lawyers, courts???

If there is any legal action, it would end up in small claims court anyway. No lawyers needed for that. BUT, again, I would not loose any sleep over that, because quite simply - it ain't happening

If the 150K was just about all the miles you had in the account, then I would go with the earlier suggestion. Start a new account. Add/subtract the initial to your name and that should about do it.
If you still have a nice chunk in the account, and if this was your first time, call the airline. At best they may let you go with warning, maybe a little punishment(subtract few more miles), or maybe they will close it and tell you to take a hike, but what do you have to loose at this point?