El Paso

Dick Poe's son fighting for control of late father's estate

Dick Poe's son fighting for control...

EL PASO, Texas - Jury selection is underway for a trial meant to decide who will control the estate of late El Paso car dealer Dick Poe, who died in 2015.

Richard Poe II has been fighting the past two years for control of three Dick Poe dealerships and other properties.

Poe II claims his ownership and control of Poe Management Incorporated (PMI) was taken in an illegal stock transaction instigated by three Dick Poe advisors just days before his father died in May 2015.

Poe II's battle for control of the dealerships pits him against El Paso lawyer Paul Sergent Junior; Anthony Bock, an accountant for two Poe dealerships; and Karen Castro, comptroller of two Poe dealerships.

All three are trustees of Dick Poe's estate. Bock and Castro are also executors of his will.

The 47-year-old Poe II wants sole ownership in PMI reinstated. He also wants his father's estate trustees removed and is seeking millions in damages.

Court records show the trustees deny any wrongdoing, saying Dick Poe took ownership with a $3.2 million dollar stock transaction at the age of 81, effectively taking back ownership of the dealerships that had previously been transferred to his son.

Dick Poe didnt think his son would manage the dealerships well, court records further state.

According to the lawsuit, documents for the transaction and the $3.2 million check were prepared by Sergent and Castro, who brought them to the hospital for Dick Poe to sign just 10 days before he died.

Proceeds from the estate will eventually be used to benefit Richard Poe II and his brother Troy, who suffers from cerebral palsy.


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