Late money manager wrote coach into life insurance
By DANNY ROBBINS, Associated Press | |
Associated Press |
The decision by
The 11th-hour change in Salinas' life insurance, detailed in a court document filed this week, suggests that the prominent
"I think he thought, `Well, I'll reimburse Coach because I screwed him and he's 85,'" said
The elder Yeoman, who coached the
Salinas, 60, was found dead in his suburban
Although most of the investment appears to be lost, the coach never considered keeping the insurance benefit, the son said. Instead, he allowed it to be turned over to the receiver appointed by the
"Dad just said, `That's not something I'm entitled to unless everybody else gets their money back,'"
In a court filing, the receiver,
Yeoman and another beneficiary readily agreed to give up their interests in the money, the filing says. But the third did not, citing the fact that the amount he was due to receive _
Harr received the court's approval for a compromise that would pay the investor, a former
Salinas was well known in college basketball circles as the founder of an AAU program for high school stars, and many of his clients were coaches.
Among the basketball coaches who have lost significant amounts of money because of investments with Salinas are
Briles told the
"Knowing that coach Yeoman was involved ... and other people in
Yeoman is the winningest coach in Houston history with a record of 160-108-8, and he's known for revolutionizing offensive football by developing the veer offense. He was inducted into the
"He just kind of believed (Salinas) and didn't do a whole lot of due diligence," the son said. "Football was his life, and he just kind of kept it that way."
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