James Clark | email
LUBBOCK, TX (KCBD) - Benny Judah is the Lubbock man accused of making false statements to investors, causing them to lose up to $40 million dollars. A court appointed a Receiver to seize Judah's assets, and it's his job to sell those assets to pay back as much money as possible to about 250 investors. Judah's attorney are asking permission to be paid $60,000 from Receivership funds.
Also, the Receiver asked for and got permission to sell Judah's stock in Plains Capital Bank, with an estimated value between $1.9 million and $2.2 million dollars. The sale will be in conjunction with Plains Capital Bank's initial public offering to maximize the value of the stock.
* Previously KCBD.com reported that the Receiver asked permission to pay Judah's attorneys. It was actually Judah's attorneys who initiated the request.
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A July 9th written statement from the Receiver says the best option is to sell Judhah's assets, not try to keep them.