Executor accused of raiding funds
BY JILL CECIL WIERSMA
THE TENNESSEAN
OCTOBER 14, 2010
Only about $50,000 remains of a nearly $800,000 estate left in a will to the Tennessee Children's Home.
The former executor wrote $100,000 in checks to himself, invested in Iraqi dinar, and lost $340,000
after investing in Hanover Corp., an investment company later revealed as a Ponzi scheme, said Bill Alsup,
development director at the home for abused, neglected or delinquent boys.
Now, Alsup and others with the home fear they won't be able to find Daryl Bornstein to hold him
accountable for the estate left by retired Metro firefighter Raymond Simmons, who died in 2006.
"That money would have been helpful, especially considering what we're doing,"
Children's Home President Brian King said, explaining that the home's antiquated facilities need to be
rebuilt. King said the board would look at its options.
Abridged
SOURCE: The Tennessean
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