Family offers reward in murder of Richard Betts
By PATRICK CROWLEY
3/23/2005

Nearly nine months after his victim was found shot to death in his suburban Los Angeles home, the killer of a mortgage company CEO is still at large.

A sizable reward has now been offered for information into the double homicide of American Liberty Funding Mortgage Co. founder and CEO Richard Betts and his uncle, William Betts.

Richard Betts, 31, and Williams Betts, 48, were killed execution style with multiple shots to the head on June 20 of last year, according to the Los Angeles County Sheriff's Department. Both men had been tied up before they were killed.

The bodies were discovered by Richard's girlfriend, Kiki Luster of Los Angeles, police have said.

Police have said the pair had no criminal history or known enemies. Family members have told police that Richard Betts was scheduled to testify in court against two former employees accused of bilking clients.

But Det. Linda Muse of the Los Angeles County Sheriff's Homicide Bureau told MortgageDaily.com that investigators have not been able to verify that Betts was involved in a contentious court case in which he was scheduled to testify.

"There's no evidence to support that," Muse said.

Police have acknowledged they have no solid leads in the case. Robbery does not appear to be a motive because the house was not ransacked and nothing of great value turned up missing, Muse said.

The Los Angeles County Board of Supervisors has put up a $10,000 reward for any information leading tot he arrest and conviction of the people involved in the killing.

"Richard Betts and Williams Betts were shot to death in the 3200 block of White Cloud Dr., Hacienda Heights," Supervisor Don Knabe said in a statement. "At this time, Sheriffs Homicide Bureau of Detectives are investigating the murders; however, to date they have received no viable clues regarding this incident."

Muse said offering rewards is "not very common" in Los Angeles County. "But the family is very distraught," she said. "They are doing everything they can to try and help solve the case."

Unfortunately, Muse said, rewards don't often result in the solving of a crime.

Both men were natives of Pensacola, Fla. William also worked at the mortgage business.

Richard Betts came to southern California to play college basketball in San Diego and began building his mortgage business after college, Richard's friend Armando Diaz of San Diego reportedly told the San Gabriel Valley Tribune.

"Richard was young, successful and always looking out for other people," Diaz reportedly said. "Now he's murdered, now he's gone."

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