Texas Jury Docks Bitcoin Thief With $40M Verdict

Law360 (July 28, 2021, 6:38 PM EDT) — An Austin, Texas, jury has awarded an El Paso man roughly $40 million in damages after finding his son breached his fiduciary duties by stealing tens of millions of dollars from him and investing it in bitcoin, gold and real property.

After a two-week in-person trial, the jury found Frank “Paco” Ahlgren III violated his 87-year-old father’s trust to manage his money and assets, ordering him to pay $40.6 million in damages to his father, Frank “Nim” Ahlgren Jr., and about $2 million in attorney fees, according to a Travis County District Court verdict form filed Friday.

The jury found that…

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