CRAWFORD, Texas — The owner of Clayton Construction, Loyed Clayton Yost, filed Chapter 11 Bankruptcy on Saturday, Sept. 23.
6 News has been following the story of Yost allegedly swindling at least 20 Central Texas residents through Blanco and McClennan County by not completing contract work his company had agreed to do.
Yost initially filed Chapter 13 Bankruptcy in July but motioned with McLennan County Judge Michael M. Parker to dismiss Chapter 13 and pursue Chapter 11.
According to court documents, Yost is over $5.7 million in debt, owing customers, other companies and banks.
If Judge Parker approves Yost's Chapter 11 filing, Yost will be able to continue doing business and will even be able to continue borrowing money from banks.
This is something alleged victims, like Carol Shaw, are afraid of.
"We don't want him to keep doing this to people and stealing their money like he did to us," Shaw explained.
Shaw is over $300,000 in debt after taking out home loans to pay for construction costs.
Shaw and six other people have filed civil lawsuits against Yost in hopes of getting some sort of justice.
"We're the odd man out," Shaw continued. "We are the ones who will get nothing. The companies, the IRS, banks... everyone will get their money, but we'll never get it."
Another alleged victim of Yost is Karen Hulett, who paid Yost $121,000 to build a barndominium. According to pictures Hulett provided, only dirt can be seen where the bardominium is supposed to be.
"He's spending the money somewhere, he's just not spending it on building homes," Hulett said.
Yost told 6 News in a prior interview he wants to keep working so that he can pay everyone back. His customers don't believe that will happen and say the civil lawsuit may also be a waste of money and time.
"We would just be losing more money," Hulett added. Even if we win the case, we wouldn't get anything."
Shaw plans to host a fundraiser to ensure she doesn't lose her home or the land it sits on.
Yost's Chapter 11 filing is currently pending.