One of South Dakota’s Wealthiest Men, Tom Vucurevich, Says He’s Insolvent

SIOUX FALLS, S.D. (AP) — A man thought to be one of the wealthiest in South Dakota is insolvent.

Tom Vucurevich is the heir to banking magnate and philanthropist John T. Vucurevich. The Argus Leader reports Tom Vucurevich through his attorney has notified creditors including the city of Sioux Falls that he doesn't have the money to pay debts.

About 20 creditors have claims of more than $11 million. The city of Sioux Falls is suing to recoup $279,000 in utility costs from a housing development.

Vucurevich referred questions to his attorney, Mark O'Leary, who said he doesn't publicly discuss matters related to his clients.

John T. Vucurevich built a banking empire in eight states. He died in 2005. A foundation in his name distributes about $5 million annually to charities, universities and nonprofits.

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