Victims Speak Out About the Man Who Stole Their Life Savings - KCBD NewsChannel 11 Lubbock

10/13/05

Victims Speak Out About the Man Who Stole Their Life Savings

Lubbock day trader Randall Morrow is now awaiting his sentence after pleading guilty to bilking dozens of people out of nearly $5-million. Morrow turned himself into federal authorities late this summer after being investigated for illegal day trading. NewsChannel 11 was in court when Morrow pleaded guilty. She spoke with the victims about trusting a man who, in some cases, stole everything they had.

Pam and James Johnson don't feel like justice was served when Randall Morrow walked into court, sat behind them in regular clothes, and left without being booked into jail. The couple lost over $36,000 to Morrow, and say now they won't have enough money to keep caring for their handicap brother.

Randall Morrow plead guilty to laundering $4.7 million, $36,000 of that belonged to Pam and James Johnson. Pam said she invested with Morrow because she needed the money for help.

Morrow and his family lived in a nice Lubbock neighborhood. Compare that to the Johnson's modest home, car, and lifestyle, it makes it hard for them to believe he could've stolen their money.

Today, Pam Johnson had one question, "Why did he do it? He's a smart man, he could've made a decent living, he didn't have to do this."

The scheme started with Pam's mother. She gave her life savings to Morrow in hopes of making enough interest to care for her mentally handicap and blind son. "She really believed everything he said, it was pitiful, I told him she had a brain tumor and couldn't make these kinds of decisions, but he took it anyway."

The Johnson's stayed with Morrow because he gave them money every month. $46,000 is the only return they received on their $93,000 investment. "We trusted him, other people trusted him, it's betrayal."

Cameras weren't allowed in court, but Pam along with many other victims got to speak face-to-face with Morrow. Pam read a statement that said, "You call it laundering I call it fraud and theft, it seems like the criminal has more rights than the victims, something seems wrong, he and his family enjoyed the hell out of my money, I didn't."

Although Morrow could spend 10 years in jail, the Johnson's say that can't even compare to the years of savings he ripped from their family. "My mother was proud of herself for saving that money. It was meant for my brother, now there's nothing."

The Johnsons told me if the victims get any restitution it will be either ten or twenty cents on the dollar.

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