​Texas Homeless Man Keeps $77,000 – “It is a great day”

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June 15, 2012

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Timothy Yost, a Texas homeless man, gets to keep the $77,000 in cash and gold coins that he found in January.

The 46-year-old, explained to police that he found the fortune in the Colorado River when he went to wash his feet. He kicked the bag it was in, and it jingled, which sparked his interest.

According to the Austin American-Statesman inside the bag there were South African coins and a bundle of wet cash.

Yost went to a bank to exchange the damp cash and coins and ended up having to hand over his find to the police. The bank teller assumed that a crime was committed and instantly called them in.

According to Yahoo News, the city of Bastrop, where it was found, took possession of it while authorities looked into whether a crime had been committed.

On June 12, the City Council voted collectively to return the $77,000 back to Yost.

“It is a great day for Bastrop; it is a great day for Mr. Yost,” his attorney, Aleta Peacock, told the American-Statesman.

Unfortunately, Yost was unable to attend the meeting, because he was serving jail time for public intoxication.

“Under common law in Texas, typically if it is buried, and we are not able to find the rightful owner for the funds within the prescribed time period, then the finder of the funds can petition to be awarded those funds,” Chief Michael Blake with the Bastrop Police Department said in a statement.