Howell Had Big Insurance Policy

David Howell’s life was heavily insured.

His family trust confirmed in a Pulaski County Circuit Court last month that it is the beneficiary of $17 million in life insurance — just as Howell’s former friend and investor, Robert Vogel of Little Rock, claimed in a suit seeking restitution from the insurance proceeds.

The trust denies, however, that Vogel is entitled to share in the benefits.

As you may recall, Robert Vogel, son Robby, brother Sam and niece’s husband Barry Hyde, all of Little Rock, have sued Richard Smith in Garland County Circuit Court for the $13.325 million that they and their business interests invested in promissory notes signed by both Howell and Smith.

Smith has countersued, saying that the Vogels received $3.5 million or more from Howell under the terms of several “consulting agreements” that may have been nothing more than an attempt to avoid the state’s usury limits.