gREEEEEEEEEr
kiwifarms.net
- Joined
- Dec 15, 2017
Rackets has updated the GoFundMe and announced who the legal beneficiary is (i.e.: Vic's lawyer, whose identity had not been released publicly until now).

tl;dr: the funds raised are now going directly into a trust account for Vic. The trust account is being managed by Ty Beard, the senior partner of Vic's legal firm, Beard Harris Bullock Hughes. Vic's legal fees will be paid directly from this trust account, and after all of those legal fees are paid, any excess funds will be donated to the Salvation Army shelter, as Vic has previously said they will be.

Update 3
Posted by Nick Rekieta
6 hours ago
You may have noticed a change to the Beneficiary on the page and I want to update everyone on what this is and what this means:
We have linked up the GoFundMe account to the Law Firm's IOLTA account. An IOLTA is a trust required by Texas law (and laws of several other states) and the acronym stands for: Interest on Lawyers Trust Accounts (IOLTA).
These accounts are designed to hold money temporarily on behalf of clients and are accounted for separately from the law firm's funds. Any interest earned by these accounts actually gets forwarded to the state to fund legal aid programs.
The beneficiary shift indicates the Senior Partner of the law firm, Ty Beard, who is the named party on the IOLTA trust account. The firm is Beard Harris Bullock Hughes.
With this transition, the money will be moved into the IOLTA account, and billing will be done against this amount. Again, any remainder will be donated to the Salvation Army shelter stated in a previous update.
Please understand that the GoFundMe will remain open and you can continue your support. We still do not know the full scope of the process, which largely depends on the actions of any opposing parties.
Thank you all for your continued support of Vic, and I look forward to updating you as more information becomes public.
Nick
Help spread the word!
Posted by Nick Rekieta
6 hours ago
You may have noticed a change to the Beneficiary on the page and I want to update everyone on what this is and what this means:
We have linked up the GoFundMe account to the Law Firm's IOLTA account. An IOLTA is a trust required by Texas law (and laws of several other states) and the acronym stands for: Interest on Lawyers Trust Accounts (IOLTA).
These accounts are designed to hold money temporarily on behalf of clients and are accounted for separately from the law firm's funds. Any interest earned by these accounts actually gets forwarded to the state to fund legal aid programs.
The beneficiary shift indicates the Senior Partner of the law firm, Ty Beard, who is the named party on the IOLTA trust account. The firm is Beard Harris Bullock Hughes.
With this transition, the money will be moved into the IOLTA account, and billing will be done against this amount. Again, any remainder will be donated to the Salvation Army shelter stated in a previous update.
Please understand that the GoFundMe will remain open and you can continue your support. We still do not know the full scope of the process, which largely depends on the actions of any opposing parties.
Thank you all for your continued support of Vic, and I look forward to updating you as more information becomes public.
Nick
Help spread the word!
tl;dr: the funds raised are now going directly into a trust account for Vic. The trust account is being managed by Ty Beard, the senior partner of Vic's legal firm, Beard Harris Bullock Hughes. Vic's legal fees will be paid directly from this trust account, and after all of those legal fees are paid, any excess funds will be donated to the Salvation Army shelter, as Vic has previously said they will be.