Late Co-Founder of Peak Completions Sued for His Estate

Late Co-Founder of Peak Completions Sued for His Estate

Zora Asberry

NewsWest 9

MIDLAND - Last February, NewsWest 9 did a story on a Midland business man, Ray Hofman, who died in a single-engine plane crash with a private jet that he had recently purchased. Soon after his death, accountants revealed that Hofman had stolen millions from Peak Completion Technologies in Midland, a company that he had co-founded and served as a CEO for.

Now, the company is suing for his estate leaving his wife to deal with the repercussions. Peak Completion Technologies filed the lawsuit on February 20 against Hofmans' widow, Janna Hofman, as she is the independent executor of his estate.

The company is also suing other third parties that were involved in helping Hofman create fake invoices to buy expensive items using the company's money.

John Zavitsanos, the lead Trial Lawyer on the case. said, "We came across one set of improprieties after another and as we dug into it. We found fraudulent invoices, we found money skimmed of the top, expensive expenditures using company money for personal use. It was really shocking."

Hofman had full time housekeepers on the company's payroll. He also had a multi-million dollar car collection and many private airplanes. He even bought his four sons a backyard pirate ship costing nearly $250,000.

"He was able to go to the Oscars. He had all types of extravagant expenditures and in fact his slogan was he wanted to "live like a rock star," said Zavitsanos.

Zavitsanos says that he just wants justice to be served.

"We want to recoup what he took without authorization and the first part of that is to identify how much that is. It's probably in the millions, significant seven figures, maybe eight figures," said Zavitsanos.

NewsWest 9 reached out to Peak Completion Technologies, as well as Janna Hofman, but neither party was available for comment.

"It is extremely unfortunate that the way that this came to light was through his passing. We don't wish that on anybody but we just want to make this right," said Zavitsanos.

The lawsuit is still in the beginning stages and no court dates have been set.