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If he's any smarter than me (and he clearly seems a lot smarter than me), he probably keeps many of his assets in bankruptcy-protected accounts/LLCs.
by ilikehurdles 6y ago
If he's any smarter than me (and he clearly seems a lot smarter than me), he probably keeps many of his assets in bankruptcy-protected accounts/LLCs.
- alistairSH 6y agoWell, he did steal a bunch of stuff and get caught. That's not particularly smart.
- toomuchtodo 6y agoIt’s okay to get caught (from a risk, not a moral perspective), it’s whether it was worth it after the costs (time and money) are tallied. Doesn’t make you dumb, it’s always a calculated risk if you’re considering a crime.
- monadic2 6y agoSeems like a low-quality signal.
- IfOnlyYouKnew 6y agoLLCs aren't protected against bankruptcies. The protection they offer only goes the other way: if someone gets a $170 million judgement against an LLC you own, that liability (usually) does not extend to assets you personally own. In this case, any (share in) LLCs he may own would be part of the assets, together with shares/cars/cash/etc., subject to be auctioned off with the proceeds being divided among his creditors.
- ensignavenger 6y agoActually, it depends on your state. https://www.limitedliabilitycompanycenter.com/llc/charging-order-protection-and-llcs/ https://www.limitedliabilitycompanycenter.com/llc/charging-o...
- FBISurveillance 6y agoI'd bet he used some mechanism, e.g. Cook Islands Trust or similar in a defendant-friendly jurisdiction. If you do shady business, you have to have plan B.