Museum raising funds to buy historic instruments

NASHVILLE, Tenn. (AP) -- The Country Music Hall of Fame and Museum has launched a $1.1 million fundraising campaign.

The money will be used to help pay for historic instruments from Bill Monroe, Johnny Cash and Mother Maybelle Carter.

The instruments were pledged to the museum by Murfreesboro investor Bob McClean, but McClean committed suicide in 2007 after being accused of defrauding investors of more than $67 million.

The trustee in McClean's bankruptcy estate wanted the museum to surrender the instruments so they could be sold to help satisfy McClean's creditors.

Last week, a Nashville court approved a settlement that allows the museum to keep the instruments in exchange for a $750,000 payment to McLean's bankruptcy estate.

The fundraising drive aims to raise enough to pay the estate plus court costs.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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