re: John L Smith is bankrupt (new details in story)

quote:

---

how in the hell does a grown man with a job only have $500 in his checking account? Is the rest in his savings or something? Does he have a savings account?

---

Could be in a family member's acct. Could be overseas. Could be a lot of places. He knew he was going down on the real estate deal so why leave money in an account that will be seized?

There's a lot more to the story than what is being reported. His supposed real estate investments started (according to Smith) in '02. The real estate market didn't tank until '06 so there was a lot of time to take profits and put them somewhere.

Just speculation on the events of his investments, but having pocket change in his personal accounts when on the brink of filing for bankruptcy is no surprise.