Update On My Dad's Estate

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

His dad is well-to-do and connected. In previous meetings with the Prosecutor I have been told we have been lucky to get anything, and victims not getting their restitution did not seem to be a big issue.

The attorney for the estate, who drew up the Restitution Agreement, also was never too hopeful about collecting on it.

I probably already said it, but when we settled with the brokerage through SEC mediation, I suggested he also negotiate a settlement with creep. At that time the balance was maybe $90K with no interest running, and they offered to settle for $21K, the total of payments remaining during probation, saying we would not see a cent after that.

That is what led to the probation review hearing where payments after probation was address by the court.

Interest is now running because of default in payments, and the balance increases every month. Somewhere around $140K now.

When the default first ocurred neither the Prosecutor or the attorney for the estate would accelerate the RA. I had to do that years later, when the beneficiaries got the RA from the Estate. The attorney for the estate deferred to the prosecutor and he recommended to the court to not do it because creep had been making payments. A year later he defaulted again, and the Prosecutor still did not ask for the RA to be accelerated.

Still, creep is only obligated to $600/month, so he (and his Dad) are better off not settling. If he lives another 30 years, and keeps paying, that's only $216K, and the balance then would be a couple jillion.

I have also pursued cashing this out with that company that buys annuitized legal judgements, and they did not want it.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Since probation expired, creep has paid sporadically. Nothing this month, for instance.

Even though in a probation violation hearing the judge told him that if he did that he would be in contempt, and would go to the county jail for 6 months for each missed payment, and, at my request, the County Prosecutor consulted a judge who confirmed that, the Prosecutor has not taken any action against Creep.

In general, their attitude, expressed, is that we are lucky to have gotten what we have.

Creep also moved, without notifying us, another violation of the Restitution Agreement, which was part of his no prison time, sentence. I send his statement updates in care of the Clerk of Courts.

Because interest began running when he defaulted in 2006, and because his mandated monthly payment does not even pay half the monthly interest, his balance is now more than double what it would have been if he had not defaulted.

Of course, he will never pay it off.

[Tia Senior Member Find all posts View Profile Close Tia]

Sort of sounds like a timeshare story I know of where the original developer gets away with HOA money because majority of ts owners never paid attention and/or fight against others that were raising the alarms. Later they get it together but it's too late in the eyes of the law and the criminals that manipulated the $ got away with it. Makes crime pay doesn't it?