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FRIDAY, MARCH 28, 2003

An Alaska Native village corporation distributed $200,000 to 147 shareholders recently. Some, like Frank Berestoff, 48, have already spent the money, The Washington Post reports.

The payout came from the liquidation of a $36 million trust fund owned by the Akhiok Kaguyak Inc. The fund was created from the sale of 77,000 acres of land to the Exxon Valdez Trustee Council, set up after the 1989 oil spill.

The decision to liquidate has driven shareholders, who are Alutiiq descent, apart. Berestoff disowned his sister because she preferred a monthly check. He lives with her now.

Get the Story:
After '89 Oil Spill, Waves of Money Roll In (The Washington Post 3/28)

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