Quote:
Originally Posted by eh777
I don't think you understand bankruptcy and often and easily it is exploited. This is a cash business, it wouldn't be hard at all for him to declare bankruptcy while keeping a huge wad of cash hidden, in fact, if he's the scumbag that he appears to be, it's the perfect way of avoiding paying people.
All of his assets will be liquidated, and those $3 million in IRS liens aren't going away any time soon, either.
Given that he's apparently already being looked at for tax evasion, I doubt the IRS is going to turn a blind eye to undeclared income when he does start tapping into the cash that he has stashed away.
As already mentioned ITT,
bankruptcy doesn't discharge all debts..
I think it's also very unlikely anyone (except perhaps Daniel) will stake him if he declares bankruptcy to wipe away the personal loans from previous stakers. Fool me once, etc.
Combine that with the fact that he's still a complete degen, I don't see sunny days in his future, bankruptcy or not, unless something major changes in his life.