Attorneys investigating missing endowment money - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

BREAKING NEWS

Lon Morris College, Attorney General's Office looking into missing endowment money

JACKSONVILLE, TX (KLTV) -

Attorneys for Lon Morris College, along with the Texas Attorney General's Office, are investigating endowment funds that have gone missing from the bankrupt East Texas college.

The college's attorney filed a motion in court last month requesting to interview former college president Dr. Miles McCall and accountants at Acker and Co. in relation to missing funds related to an endowment.

Attorneys examined McCall this week. He resigned from the college back in May.

They are expected to interview Lynn Acker and representatives of Acker & Co. under oath about the missing funds. The college also asked for all documents related to the Long Endowment including board minutes, resolutions and e-mails.

Attorneys could not disclose more details about the investigation.

Paperwork filed in federal bankruptcy court said the attorneys are seeking information about a $1 million Long Endowment. That endowment was left from the will of LMC grad and Rusk-native Dr. James Long (1925-2009). Long graduated from Lon Morris College, went on to earn his B.S. and M.A. from Sam Houston Teachers College in Huntsville and Ph.D. in Zoology at the University of Texas at Austin.

In documents submitted to bankruptcy court in July 2012, the Long Endowment had a balance of $1,092,796.

Dr. Long's will submitted to the court states that if Lon Morris College is unable to accept the endowment or ceases to exist at any time, the money should be given to Sam Houston State University. LMC has not held classes since the Spring 2012 Semester. 

It is still not known what has come out of those sworn oral examinations or where the endowment money may be located. Attorneys say the investigation is still ongoing.


Related Stories:

Copyright 2012 KLTV. All rights reserved.

  • FOX19 HeadlinesMore>>

  • Cohen partner pleads guilty in deal requiring cooperation

    Cohen partner pleads guilty in deal requiring cooperation

    Tuesday, May 22 2018 6:12 PM EDT2018-05-22 22:12:57 GMT
    Tuesday, May 22 2018 7:43 PM EDT2018-05-22 23:43:21 GMT
    A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations. (Source: CNN)A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations. (Source: CNN)

    A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations.

    Full Story >

    A longtime business partner of President Donald Trump's personal lawyer, Michael Cohen, has pleaded guilty to tax fraud in a deal that requires him to cooperate in any ongoing investigations.

    Full Story >
  • Congress moves to dismantle key post-crisis bank rules

    Congress moves to dismantle key post-crisis bank rules

    Tuesday, May 22 2018 12:33 PM EDT2018-05-22 16:33:04 GMT
    Tuesday, May 22 2018 7:43 PM EDT2018-05-22 23:43:30 GMT
    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)
    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis. (Source: CNN)

    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes. The House was to approve...

    Full Story >

    Congress is moving to dismantle a chunk of the rules framework for banks to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes. The House was to approve legislation to roll back the Dodd-Frank law.

    Full Story >
  • The princes, the president and the fortune seekers

    The princes, the president and the fortune seekers

    Tuesday, May 22 2018 12:13 AM EDT2018-05-22 04:13:57 GMT
    Tuesday, May 22 2018 7:34 PM EDT2018-05-22 23:34:31 GMT
    (AP Photo/Evan Vucci, File). FILE - In this May 20, 2017, file photo, President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman in Riyadh. In emails obtained by The Associated Press, George Nader claims...(AP Photo/Evan Vucci, File). FILE - In this May 20, 2017, file photo, President Donald Trump shakes hands with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman in Riyadh. In emails obtained by The Associated Press, George Nader claims...

    A top Trump fundraiser and a senior adviser to a UAE crown prince ran a secretive campaign, trading lobbying against Qatar for defense contracts from Gulf countries.

    Full Story >

    A top Trump fundraiser and a senior adviser to a UAE crown prince ran a secretive campaign, trading lobbying against Qatar for defense contracts from Gulf countries.

    Full Story >
Powered by Frankly