Only $50,000 left in estate for Tennessee Children's Home, executor accused of raiding funds

[Hipslala]

SPRING HILL — 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.

Read the full report at the Nashville Tennessean Web site.

This is bad...but is he a believer or what???????????

Hipslala

[RichNick123]

SPRING HILL — 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.

Read the full report at the Nashville Tennessean Web site.

This is bad...but is he a believer or what???????????

Really hope and pray the the 4 million dinar he had in the safe and was recovered scores big!! It would be a shame to see this wasted for these children. I have to believe that God is in control and that he will turn this sorry situation into a joyus celebration!

Hipslala

[Hipslala]

Just imagine all of the other bad things that may have taken place, and hopefully all the bad does not out weigh all the good.

Hipslala