Bankruptcy Never Seemed So Sweet For This Spammer
from the not-such-a-bad-deal... dept
Last month, in talking about spammer Scott Richter filing for bankruptcy, we noted that people shouldn't get too excited, because it was clear that the filing had little to do with monetary issues and was mostly an effort to hide out from the various lawsuits against him. Now more information is coming out, including the fact that the "bankrupt" Richter made $1.2 million last year -- which might make you wonder how he can legitimately file for bankruptcy.
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That's simple: net worth = assets - liabilities.
From what I understand, if this is negative, you may need a bankruptcy court to protect your assets from the creditors wishing to collect on your liabilities.
I suppose this gives you some idea of what liabilities he expects to incur...
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