A man is using the funds from the life insurance of the wife he’s accused of killing to fund his legal defence.
Court records show that a settlement was reached that calls for Dr. Adam Frasch’s criminal defense attorney, Clyde Taylor, to receive $200,000 for his work, a further $25,000 is going to John Kenny for civil litigation services, while the defendant is pocketing $150,000.
The settlement was reached on Frasch’s wife Samira’s $1 million life insurance policy.
Frasch is now out of jail, but still faces trial in the murder of his wife at the couple's Golden Eagle home in February 2014.
Cases like this place advisors in an awkward position when the payouts they are so proud to bring to beneficiaries are caught up in potentially nefarious circumstances. It also tarnishes the reputation of life insurance, making it difficult for advisors to shift a product increasingly viewed as a tough sell in the current environment.
As well as helping Frasch’s legal defense, a further $125,000 from the life insurance policy could be funnelled to the law firm Friedman, Frank and Abrahamsen for its representation in a wrongful death suit filed by Samira’s estate in May 2014.
The couple’s two daughters and Samira's two other children will divide $500,000. No money from the insurance policy will go to the estate.
Frasch will also receive 40% of any money from property or possessions obtained during their marriage, with 40% also going to the children and the remainder divided among attorneys.
At the time of her death, Samira was in the process of divorcing her estranged husband.
Investigations into Samira’s death painted a picture of a tumultuous five-year marriage rife with threats of divorce. Things boiled over in 2013 with several violent confrontations.