Homeless Man in Texas Will Keep $77,000 Found in Treasure, Court Says
Finders, keepers. This is probably the best words to describe a homeless man who found a $77,000 worth of cash and gold coins at a park in Texas.
The homeless man identified as Timothy Yost, 46, found $77,000 in wet cash and South African coins in a bag when he was washing his feet in the Colorado River in January. He told police he kicked a bag he’d spotted and it jingled. Upon kicking, he was surprised to find a loot comprising of wet cash and coins from South Africa.
Yost then tried to exchange the coins at a local bank. However, a bank teller tipped off the police. Yost showed officers where he made the discovery but the city of Bastrop ultimately held the money while the police investigated whether it was related to illegal activity.
The loot remained for 30 days in the evidence room of the police department. After the mandatory 90 day period passed, the city was unsuccessful in finding the rightful owner. Bastrop City Council then conducted a voting session on Tuesday night, June 12, 2012, and they voted unanimously 6-0 to give the money to Yost.
“Under common law in Texas, typically if it is buried and we are not able to find the rightful owner for the funds within the prescribed time period, then the finder of the funds can petition to be awarded those funds,” Bastrop Police Chief Michael Blake said.
According to Aleta Peacock, Yost’s attorney, Yost will receive 70 $100 bills and 40 Krugerrand gold coins within the next 48 hours. “It is a great day for Bastrop; it is a great day for Mr. Yost,” Peacock said.
Yost was not present during the announcement of the decision since he’s been jailed for public intoxication and criminal trespass.
Yost is reportedly eyeing to buy his first car as hist first purchase with the money.