Insurance Firm Execs Owe $12.5M In Fight With Late Partner
By Cara Salvatore (June 27, 2019, 9:22 PM EDT) -- A Texas state jury has found that the married owners of an insurance agency owe $12.46 million for awarding themselves excessive salaries and taking commissions that belonged to the company, among other things, in a suit brought over the allegedly wrongful ouster of the firm's other founder.
Following a four-day trial on June 21, the jury in Tarrant County, Texas, found extensive wrongdoing by Gaylan and Dan Hendricks — two of the three founders of Fort Worth-based Senior Security Benefits Inc. The verdict included findings that the two overpaid themselves and that Gaylan Hendricks shunted commissions from a partner company directly...
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