Colorado Man Denies Mismanagement of Casper Estate
A Colorado man has denied accusations that he siphoned money from his father’s Casper-based estate to fund casino trips and several other purchases in Colorado and Las Vegas.
Jason Hibsman entered a not guilty plea to one count of larceny by bailee in Natrona County District Court on Thursday.
Prosecutors say Hibsman, who was appointed as the sole administrator of his father’s estate in 2008, paid himself nearly $200,000 to conduct repair work on a pair of family homes that were up for sale between December 2008 and November 2010.
During that time, money was withdrawn from the estate’s bank account from several casino ATMs in Colorado and Las Vegas. Several purchases from points of sale outside of Wyoming were also made during periods of time when Hibsman said he was in Wyoming conducting repairs.
In October 2010, Hibsman reported the gross value of his father’s estate at nearly $480,000. When a judge removed Hibsman as the estate’s sole administrator in November 2010, the account had a balance of just over $99,000.
When authorities interviewed the current owner of one of the family’s homes earlier this year, the individual said the house needed work and that much of the home’s recent workmanship was poor. He also told investigators that recent improvements on the property totaled less than $90,000.
The bank account connected with the estate was frozen by a judge in November 2010. Prosecutors also claim that Hibsman didn’t seek the proper authorization to pay himself for labor and work expenses when he managed the account.
Hibsman faces up to 10 years in prison. He is free on $5,000 bond awaiting trial.