Updated 06/13/2012 07:25 AM
‘Finders keepers’ money battle resolved in Bastrop
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A homeless man in Bastrop can now celebrate after stumbling on tens of thousands of dollars earlier this year.
It all started in January, when Bastrop police were called to a bank where 46-year-old Timothy Yost was trying to exchange a substantial amount of wet cash.
He told police he found the money in a plastic bag in Fisherman's Park. According to the Bastrop City Attorney, it contained 70 $100 bills and 40 gold Krugerrand coins.
"We don't know exactly where it happened, but know it was somewhere along Fisherman's Park, the man stopped walking when he felt something hit his feet, what he found was a plastic bag, in it tens of thousands of dollars."
When police arrived at the bank, they confiscated the cash and valuable coins. First they made sure the money was not related to a crime or contraband. Second, public announcements were made asking the owner of the money to come forward.
"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 said.
Bastrop City Council questioned what to do with the money, but after a public hearing Tuesday, the council said Yost could keep the bounty.
"It means everything to him, he has a whole future ahead of him, he has the opportunity to make plans and have a real future," Yost’s Lawyer Aleta Peacock said.
Yost himself is currently incarcerated in Bastrop, charged with criminal trespass and public intoxication.
Officers say two other people made "minor claims" for the loot.