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Life Insurance Agent Settles after 3 Hours on the Stand

Ashford v Weaver et al, Cause No. 2009-11223, In the 165th Judicial District Court for Harris County, Texas.

Patterson represented the Ted Ashford family against Life Insurance Agent Wayne Weaver who sold Ashford $10 Million worth of life insurance that was financed through a “third party” lender. Unbeknownst to the family, Weaver actually “financed” the premium payments by lending the money to the “third party” finance company thereby putting himself in a position to both sell the policies and loan the money on same.

Weaver sued Ashford for payment of the note. The Ashford family sued Weaver for fraud, violations of the DTPA and the Texas Insurance Code. The case was heard in the 165th Judicial District Court, Judge Josefina Rendon Presiding. On the third day of trial, after Ashford’s case in chief, including Patterson’s three hour cross examination of defendant Weaver; defendant Weaver settled the entire matter before the next day’s testimony was to begin.

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