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Investors are pursuing their part of the $8 million estate a Fayetteville businessman left behind along with more than $40 million in debts when he killed himself.

Multiple media outlets reported that bank founder and financier Raymond Lee Mulkey Jr. left investors wondering if he was running a Ponzi scheme.

Fayetteville lawyer Lonnie Player Jr. says his clients invested in Mulkey’s finance businesses and collected 12 percent per year as agreed, but now fear they may have lost their money in a fraud.

Police say the 63-year-old Mulkey killed himself last month in North Myrtle Beach, S.C.

He helped create New Century Bank in Dunn, which told the Securities and Exchange Commission an apparent fraud forced it to write off up to $11 million.