COLUMBUS — A judge has ordered Columbus businessman and former Tennessee Valley Authority board member Don DePriest to pay an ex-business partner more than $9.1 million in undistributed proceeds and unpaid loans.
The judgment was filed last week by Chancellor Kenneth M. Burns.
Oliver L. Phillips Jr. alleged in the Lowndes County Circuit Court civil lawsuit that DePriest owed him more than $12 million. In a written order, Burns said DePriest owed $5 million as part of a 1996 settlement the two reached, $979,444 for the value of an investment in a cellular phone service and $3.1 million in unpaid loans.
Phillips alleged DePriest reneged on promises to repay the money.
DePriest was appointed to the TVA board in 2006. He resigned April 9.
The Associated Press