GA GA - Shirley, 87, & Russell Dermond, 88, Putnam County, 2 May 2014 - #12

[deugirtni]

Innocent family members TALK. my opinions are my own.

Same with.... there seems to have been enough money there in the estate to have made a substantial addition to the reward fund? But no.

 

[Deleted member 162919]

I would hope he is keeping a tail on those 2 and i'm sure he is but if it's family they might not do anything illegal again.

 

[ParkerHamilton]

With Georgia's open record law, If Sheriff Sills wanted to he could release the names of the two suspects right?

 

[TJtennispro]

My understanding is that he has released to the AJC.

With Georgia's open record law, If Sheriff Sills wanted to he could release the names of the two suspects right?

 

[dancinunderthemoon]

Honestly how far can someone go in their investigstion without cause but only suspicion...i know you need evidence to indict ....i know you have to investigate to get there but at what point is it harassment....seriously curious about this....some things would be cause to say ...get a search warrant but other than that...tailing someone probably is harrassment..bugging is illegal and not used in court...you can't evem record phone calls without permission...well you can. But it's illegal lol

I guess if there are liens all over the place and loans getting denied id be looking into that for sure

Not like the dermonds were only on SS with no assets....funds got distributed

Jmo

 

[TJtennispro]

Same with.... there seems to have been enough money there in the estate to have made a substantial addition to the reward fund? But no.

I thought each kid only walked away with like $250k? I guess we don’t know for sure.

 

[Deleted member 162919]

Being a savvy businessman as RD was i'm sure he had a trust fund set up and I do know some trust funds nobody outside of the people in the trust fund can get any info . Even with a warrant SS wouldn't be able to get access to it as they usually go through an attorney who then distributes the funds according to what RD set up. My guess is each Dermond kid pocketed more than 250k. The house sold for almost 700k so there's almost 250k per kid right there. I am sure both Dermonds had life insurance and i'm sure that was a good amount, then you have investments over his 60 years not to mention the money he made from his franchise he certainly wasn't losing money if he was able to expand to 19 restaurants before handing it over to the kids. Bottom line and a conservative estimate each kid took home at least 1 million . Another thing comes to mind. Early on someone said they heard from someone on the police force that this was a hit from up north well last time I checked a map North Carolina was north of Georgia but I know a lot of people hear it was a hit and instantly figure New York or New Jersey, Heck I even saw 1 comment where the person said there's no mafia in Georgia. Factor in his pension, social security, insurance, investments and I think the kids were looking at a lot of money... Just My Opinion though

 

[Valiant]

Being a savvy businessman as RD was i'm sure he had a trust fund set up and I do know some trust funds nobody outside of the people in the trust fund can get any info . Even with a warrant SS wouldn't be able to get access to it as they usually go through an attorney who then distributes the funds according to what RD set up. My guess is each Dermond kid pocketed more than 250k. The house sold for almost 700k so there's almost 250k per kid right there. I am sure both Dermonds had life insurance and i'm sure that was a good amount, then you have investments over his 60 years not to mention the money he made from his franchise he certainly wasn't losing money if he was able to expand to 19 restaurants before handing it over to the kids. Bottom line and a conservative estimate each kid took home at least 1 million . Another thing comes to mind. Early on someone said they heard from someone on the police force that this was a hit from up north well last time I checked a map North Carolina was north of Georgia but I know a lot of people hear it was a hit and instantly figure New York or New Jersey, Heck I even saw 1 comment where the person said there's no mafia in Georgia. Factor in his pension, social security, insurance, investments and I think the kids were looking at a lot of money... Just My Opinion though

Actually, the financially smart life insurance thing to do is to carry term insurance only to cover death during working years and not in retirement.
Without knowing their financial planning I would not assume large amounts of life insurance.

 

[fred&edna]

It's difficult for me NOT to focus on the ex (for several reasons). But, I don't think he did this alone. So, now I'm wondering.... Who was the possible culprit?!

 

[deugirtni]

I thought each kid only walked away with like $250k? I guess we don’t know for sure.

If that is the case, then I sure hope they do a thorough forensic accounting to determine where all of their money from alllllll of those franchises went.

 

[dancinunderthemoon]

HAHA, SS in this post is Social Security not Sheriff Sills !!

Honestly how far can someone go in their investigstion without cause but only suspicion...i know you need evidence to indict ....i know you have to investigate to get there but at what point is it harassment....seriously curious about this....some things would be cause to say ...get a search warrant but other than that...tailing someone probably is harrassment..bugging is illegal and not used in court...you can't evem record phone calls without permission...well you can. But it's illegal lol

I guess if there are liens all over the place and loans getting denied id be looking into that for sure

Not like the dermonds were only on SS with no assets....funds got distributed

Jmo

 

[dancinunderthemoon]

I agree, I've been figuring too, they did well --------for lack of a better term here

It was me who the cop told that too about up north, it was in reference to the D's being from Joisey ha

Mafia is everywhere and cartel, I guess thats the new mafia? IDK

I dont think SS needs to investigate the trust fund but the individual children and families

THAT he would need a search warrant for anything that isnt public and he'd have to have probably cause and judge to sign a warrant

Dont know how you get to that without even dna or forensics to even point you to someone

Unless of course it was blatantly obvious in some way......i know what my suspicions are

I know what I have uncovered as well as you and others Hockey............just cant talk about it on here but I'd be looking at those finds if I was SS

and maybe HE IS!!

Being a savvy businessman as RD was i'm sure he had a trust fund set up and I do know some trust funds nobody outside of the people in the trust fund can get any info . Even with a warrant SS wouldn't be able to get access to it as they usually go through an attorney who then distributes the funds according to what RD set up. My guess is each Dermond kid pocketed more than 250k. The house sold for almost 700k so there's almost 250k per kid right there. I am sure both Dermonds had life insurance and i'm sure that was a good amount, then you have investments over his 60 years not to mention the money he made from his franchise he certainly wasn't losing money if he was able to expand to 19 restaurants before handing it over to the kids. Bottom line and a conservative estimate each kid took home at least 1 million . Another thing comes to mind. Early on someone said they heard from someone on the police force that this was a hit from up north well last time I checked a map North Carolina was north of Georgia but I know a lot of people hear it was a hit and instantly figure New York or New Jersey, Heck I even saw 1 comment where the person said there's no mafia in Georgia. Factor in his pension, social security, insurance, investments and I think the kids were looking at a lot of money... Just My Opinion though

 

[dancinunderthemoon]

With Georgia's open record law, If Sheriff Sills wanted to he could release the names of the two suspects right?

Did I miss something? When did GA get open records law? No one can go and get case information unless the investigators allow it and most of the time they dont and wont tell anyone anything about an ongoing case

DId that change? Or do you mean business information etc?

THanks

 

[dancinunderthemoon]

My understanding is that he has released to the AJC.

He named the 2 suspects that wouldnt take a polygraph test? I havent seen that

 

[Deleted member 162919]

I never heard he named them but in the last podcast he said he has 2 suspects.

 

[kay74]

Refusing a poly says a lot, IMO

 

[Deleted member 162919]

sure does

 

[Valiant]

If that is the case, then I sure hope they do a thorough forensic accounting to determine where all of their money from alllllll of those franchises went.

Restaurant franchises aren't going to make the huge returns many other invetments will. Beyond the franchise fees, margins are tight in the fast food industry.
Plus these were what I'd consider 2nd or 3rd tier restaurants, not the volume of a McDonald's. The resale value of the franchises may not be as great as one might think. Here's an example: Blimpies states the minimum franchise investment is about $140k. I found existing Blimpie's franchises selling for $75k. I used Blimpie's because I found examples for re-seal quickly. Many businesses, including these franchise businesses, end up financing the business to the new owner because bank financing can be hard to get.

 

[deugirtni]

Restaurant franchises aren't going to make the huge returns many other invetments will. Beyond the franchise fees, margins are tight in the fast food industry.
Plus these were what I'd consider 2nd or 3rd tier restaurants, not the volume of a McDonald's. The resale value of the franchises may not be as great as one might think. Here's an example: Blimpies states the minimum franchise investment is about $140k. I found existing Blimpie's franchises selling for $75k. I used Blimpie's because I found examples for re-seal quickly. Many businesses, including these franchise businesses, end up financing the business to the new owner because bank financing can be hard to get.

Just as a comparison, I read that the restaurant chain that the two sons are now owners of at least two franchises in, require $1,000,000 (see paste below from previous search). Wendy's was pretty popular as well. I'm pretty sure their market value at time of sale would've been substantial, especially considering the quantity they owned.

How much does it cost to open a First Watch Restaurants Franchise?
The estimated investment required to open a First Watch Restaurants Franchise is $1,000,000. There is an initial franchise fee of $35,000 which grants you the license to run a business under the First Watch Restaurants name.

Individual Unit Costs

• Initial Investment:
  $1,000,000
• Initial Franchise Fee:
  $35,000
• Royalty Fee:
  4%
• Advertising Fee:
  up to 3%

 

[Valiant]

Just as a comparison, I read that the restaurant chain that the two sons are now owners of at least two franchises in, require $1,000,000 (see paste below from previous search). Wendy's was pretty popular as well. I'm pretty sure their market value at time of sale would've been substantial, especially considering the quantity they owned.

How much does it cost to open a First Watch Restaurants Franchise?
The estimated investment required to open a First Watch Restaurants Franchise is $1,000,000. There is an initial franchise fee of $35,000 which grants you the license to run a business under the First Watch Restaurants name.

Individual Unit Costs

• Initial Investment:
  $1,000,000
• Initial Franchise Fee:
  $35,000
• Royalty Fee:
  4%
• Advertising Fee:
  up to 3%

Don't confuse that initial investment with resale value. Franchises often do not resell for anywhere near what a new franchise costs. They likely made nice income from them over the years, but there is no guarantee that they resold for anywhere near $1 million each (or that there weren't debts that needed to be paid off at the time of sale reducing the proceeds).
I think they probably were well off, but without access to more detailed financial information I would not assume they are "rich".