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Nugent family reveals full scope of Bernie Tiede's alleged scam

KYTX

By Field Sutton

November 14, 2014

EAST TEXAS (KYTX) -

Marjorie Nugent's family is stepping up the fight to put Bernie Tiede back in prison. This is the first time Nugent's family has gone public with the full scope of an elaborate investment scam.

Marjorie's granddaughter Shanna said Friday that it unraveled and cost an innocent woman her life, the 18th anniversary of which arrives next Wednesday.

Two weeks after a trip to retrieve evidence from the Panola County Sheriff's Department, Shanna and her father Rod believe there are still skeletons in Tiede's closet that they haven't found. For months they've waited for an appeals system that let tiede out of prison to decide whether he'll go back.

The release was based on claims that tiede was in a "dissociative state" when he killed Marjorie. His potential return, the Nugents hope, will be based on a confluence of evidence from prior to Marjorie's death.

There's Tiede's own hand-written confession reading "I had thoughts of hitting Marjorie in the head with a bat, or anything, for a couple of months prior to November 19, 1996," referring to the day Marjorie was murdered. It's backed up by investigators' reports saying he admitted as much when they were interrogating him.

"And at some point the next day, that checkbook that was in her purse, he writes a $20,000 check to himself," Shanna said.

Shanna has uncovered her grandmother's personal balance sheets dating back to 1990. They show a staggering $2.5 million invested via Tiede. The records indicate marjorie thought she earned nearly $200,000 on that investment in just one year.

"And in 1994, what you start seeing is that my grandmother's out of money," Shanna said. "But she doesn't know she's out of money so she's still writing checks and Bernie's no longer cashing them because it's pretty clear he knew there was no more money."

Shanna said the scam is revealed in duplicate sets of bank deposit tickets made out to Marjorie's bank. She said the ones Tiede gave Marjorie showed thousands of dollars being put back in her account from investment earnings.

The set she never saw is missing that chunk of money. The actual amount deposit in the bank just a small fraction of what marjorie thought.

"Bernie Tiede conned my grandmother, much like Bernie Madoff conned investors," Shanna said. "He conned my grandmother so well, she was writing him checks to this investment account that didn't really exist."

The Nugents want Panola County District Attorney Danny "Buck" Davidson to help them get more financial evidence against Tiede. Shanna said he has not been willing to talk about it.

Davidson has not been willing to discuss the matter with CBS 19 either.

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