3 ms·
how does that work? I know from OJ that FL law protects the home, but will you have a $50 Million home with all the expenses but that cannot sell? Maybe he can
by onetimemanytime 7y ago
how does that work? I know from OJ that FL law protects the home, but will you have a $50 Million home with all the expenses but that cannot sell? Maybe he can borrow against it...
But I doubt he'll get sued. Unless he fudged the numbers it isn't his fault that supposedly sophisticated suckers gave him money.
- pmart123 7y agoI think it would be hard to prove anything outside out of gross incompetence. If he buys a Florida home and uses it as his primary residence, he would be able to keep the house even during bankruptcy. So he could buy the $40M, declare bankruptcy on the margin loan, and then sell the house eventually as far as I understand it.
- gigatexal 7y agoBut the valuation falling so badly and his shady antics perhaps there’s a case for failing as CEO to execute one fiduciary duty? Any lawyers here on HN?