Court rules schemers death accidental
By:
Updated: April 17, 2007
The case involves the death of M. David Howell, whose 80-million-dollar scheme was exposed shortly before he was found dead of a drug overdose in a Beverly Hills hotel room in 2002.
Today`s ruling came about in an appeal by the Valley Forge Life Insurance Company over a lawsuit brought by the Richard T. Smith Family Trust. Smith, of Hot Springs, was a business associate of Howell who has been implicated in the scheme.
Valley Forge reportedly paid the Smith trust two million dollars on a policy on Howell`s life. But the company refused to pay an additional 300 thousand dollars in accidental death benefits on the grounds that Howell committed suicide.
Smith is scheduled for trial in April on a four-count indictment in connection with his alleged part in Howell`s investment scheme.
(Copyright 2006 Newsroom Solutions, LLC)
