Local GOP leader sued for ponzi related funds

A trial accusing a local Republican Party leader of profiting from Daren Palmer’s ponzi scheme began Tuesday in Pocatello.

Bonneville County Republican Central Committee chairman Doyle Beck loaned $500,000 to Duane Yost, Palmer’s brother-in-law, in 2007. Within a year Yost paid the money back, plus interest.

Court appointed receiver Wayne Klein is suing Beck, saying the money Yost used to pay Beck back originally came from Palmer’s ponzi company, Trigon Group.

As court receiver, Klein is tasked with trying to get money paid back to defrauded investors.

Klein argues the money Yost used to pay back Beck should be returned to the victims of the ponzi scheme.

Beck’s attorney argues Beck gave the loan in good faith, and that the money paid to him came solely from Yost and not from innocent investors.

In the first day of the trial, jurors were selected, attorneys gave their opening statements and Beck took the witness stand.

Klein seeks a total of $555,000 from Beck.