Moncrief Family Values

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Tex's lawyers tried unsuccessfully to unseal the federal search warrant that justified the IRS raid on their offices. In court papers, they blamed the raid on allegations by a "disgruntled" and "revenge-seeking" former employee.

The cooling-off period is to conclude at the end of this month, but Mike Moncrief's lawyers may well seek an extension to finish reviewing the voluminous records in Tex's offices.

Mike Moncrief doesn't expect a quick resolution. He says he cannot imagine trusting his uncle or cousins again; he says he no longer even speaks with them. Moncrief says he would be willing to share ownership of oil properties with his relatives, but he will rely on third-party management companies to account for their respective interests.

The senator also says that he has learned a lot about trusting others in private business. He admits to a mistake or two. He recalls one occasion on which he invested in a bad real estate deal with "the wrong kind of people" and sought his grandfather's help. "You got yourself into this," Mike remembers his grandfather telling him. "You get yourself out of this."

Now, through litigation, Mike Moncrief is trying to do just that. Only this time he is alleging that the wrong kind of people with whom he is involved are his own kin.

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Miriam Rozen
Contact: Miriam Rozen