|
|
|
AUSTIN, Texas (AP) — The estate of a man found after his death to have been running a Ponzi scheme is suing eight early investors he paid while he was still alive from funds taken from later investors. The Derrich Pollock estate's trustee says the investors need to return about $1.2 million to Pollock's widow and four children. Pollock died in a 2007 plane crash in Lago Vista, near Lake Travis. The Austin American-Statesman reports that more than two years later, life insurance policies Pollock took out on himself have paid more than $6.5 million to the 90 people who invested with him. According to 62 lawsuits filed against him by investors after his death, Pollock in 2002 began trading stocks through a business he called System Five. (Copyright 2009 The Associated Press. All Rights Reserved.)
Popular Stories
|
