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Homeless Man Can Keep $77,000 He Found In Park, Court Rules

Posted: June 13, 2012

Texas homeless man finds $77,000 in park

A homeless man who found $77,000 in wet cash and South African coins in a Texas park will now be able to keep the loot after the city ruled the money belonged to him.

Timothy Yost found the money in a bag when he was washing his feet in the Colorado River in January, Yahoo News reported. He told police that he kicked the bag to see what was inside and heard a jingle, and when he opened it found wads of wet cash and coins from South Africa.

Yost tried to exchange the coins at a local bank, but a bank teller tipped off the police and the city of Bastrop ultimately held the money while police investigated whether it was related to illegal activity.

The money remained in the evidence room at the police department for 30 days while they determined it was not related to any crimes, and on March 1 police placed a notice in the newspaper. After the mandatory 90 day period passed and the city was unsuccessful in finding the rightful owner, Bastrop City Council voted 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,” Chief Michael Blake with the Bastrop Police Department told Austin’s Your News Now.

Alena Peacock, Yost’s representative, told the Austin Statesman that the homeless man’s stroke of luck will net him 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 told the Statesman.

But first the homeless man will have to wait—he is currently in jail on public intoxication and criminal trespass charges.

Category: News
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Posted: June 13, 2012
Nathan Francis

By Nathan Francis









Comments


10 Archived Responses to “ Homeless Man Can Keep $77,000 He Found In Park, Court Rules ”

  1. Rob Lewis
    Jun 13, 2012

    He will really be able to get drunk now.

  2. Jonathan Vasquez
    Jun 13, 2012

    lol wow arresting homeless people while the real criminals are still out there good job! I feel safer at night knowing a drunk hobo is in jail..

  3. Rick Wainright
    Jun 13, 2012

    That will buy a shitload of Thunderbird.

  4. Leah Willeford Woodall
    Jun 13, 2012

    He probably got drunk and went to the police station to demand his money :)

  5. Zenos Pipkin
    Jun 13, 2012

    At least he won't have to get a CHECK from the city, like that waitress did who received a $12,000 tip from a customer, and then had to wait because the POLICE tried to claim it! The b_st_rds!

  6. Neicie Marie K
    Jun 13, 2012

    THIS MONEY WILL PROLLY BE THE DEATH OF HIM, SORRY TO SAY…IT WOULD OF DONE BETTER USE AT THE LOCAL MISSION FOR HOMELESS MEN.

  7. Bob Thornton
    Jun 13, 2012

    Now he can afford "Bath Salts" awesome!

  8. Preemie babies
    Jun 13, 2012

    lol he is going to have a major party. Hope he enjoys it.

  9. Anonymous
    Jun 14, 2012

    Just wait, the Obama administration will tax this guy till he is poor once again. Meanwhile, Obama raises millions for his re-election campaign.

  10. Beverly Durant
    Jun 14, 2012

    well he will be a rich drunk. hope he get clean and use the money the right way. good luck