Stanley Marsh 3, "Cadillac Ranch owner," settles lawsuits with 10 teens accusing him of paying for sex acts

In this Aug. 20, 1997 file photo, Stanley Marsh 3, dubbed Amarillo's eccentric millionaire, watches as workers lower into place one of the ten cadillacs that made up the Cadillac Ranch west of Amarillo, Texas. On Wednesday, Nov. 28, 2012, an arrest warrant has been issued for Amarillo millionaire and eccentric artist Stanley Marsh 3, accusing him of 11 felony counts of child molestation.
Henry Bargas, File,AP Photo/Amarillo Globe News-Times
In this Aug. 20, 1997 file photo, Stanley Marsh 3, watches as workers lower into place one of the ten Cadillacs that made up the Cadillac Ranch west of Amarillo, Texas.
Henry Bargas, File,AP Photo/Amarillo Globe News-Times

(CBS/AP) AMARILLO, Texas - An eccentric millionaire artist know for his "Cadillac Ranch" art display along a Texas interstate has settled lawsuits from 10 teenagers who say that he paid them for sex acts, attorneys announced Saturday.

Plaintiffs' attorney Anthony Buzbee and Marsh's attorney Kelly Utsinger released a statement saying that 75-year-old Stan Marsh 3 and his accusers have resolved their differences and that neither side will have further comments, according to the Amarillo Globe-News.

Marsh 3 suffered a stroke in 2011 and his wife, Gwendolyn Marsh, was later appointed as his guardian. Marsh 3, his wife, his son, Stanley Marsh IV and associate David Weir settled the 10 civil suits.

Marsh 3 is known for planting 10 brightly painted Cadillacs nose down along Interstate 40 in the Texas Panhandle in the 1970s. The cars, ranging from a 1948 club coupe to a 1963 sedan and gathered from junkyards, private collectors and used car lots, have since become a pop art landmark. Marsh 3 uses the numeral '3' in his legal name; his son uses the more traditional Roman numeral.

Marsh 3 also faces six counts of sexual assault and five counts of sexual performance of a child. He is accused of molesting a 15-year-old boy and a 16-year-old boy in 2010. The millionaire surrendered to authorities in November 2012 and is free on $300,000 bond. If convicted, Marsh 3 faces up to 20 years in prison per count and fines of up to $10,000. His lawyers have denied the allegations.

The civil suits accuse Marsh 3 of giving the teen boys cash, alcohol, drugs and in one case, two BMWs, to perform sex acts with him during secret encounters at his office. In one of the civil cases, a teen plaintiff claimed he had more than 100 sexual encounters with Marsh 3 in his office and home in Amarillo.

Marsh 3's lawyers issued a statement upon his arrest last year saying that the charges were "mere allegations by the group of accusers who have filed a barrage of civil lawsuits ... seeking millions of dollars." The statement said the accusers waited until to come forward until after Marsh 3 was legally incapacitated from his stroke.

Amarillo police said they found evidence during their search in Marsh 3's offices that corroborated "the accounts of sexual exploitation of minors." Police seized 70 envelopes of blue pills, signed confidentiality agreements, two Apple computers, couch cushion covers and a photo of a nude male, a search warrant inventory report said. Investigators also found 11 copies of blank or unsigned "release and waiver" documents in a drawer in Marsh 3's private office, according to the police investigation inventory.

A witness told police that Marsh 3's office had a large bed and a bottle of Viagra, which he would give to the teenager.

Marsh 3 pleaded no contest in 1998 to misdemeanor charges of unlawful restraint and criminal trespassing as part of an agreement that dismissed five felony charges included kidnapping, aggravated assault with a deadly weapons and indecency with a child. He served 10 days in jail and paid $4,000 in fines.

Complete coverage of Stan Marsh 3 on Crimesider