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Is Pharmstrong behind on his litigation bills?
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I do not know if he is behind per se, but I do think he knows they are coming and will be substantial!
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what happened to all those people claiming he had $100 million in the bank?
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:lol:
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Less than $500 per year from China, 10x that from US legit sources, but since LA has retired maybe Ferrari no longer offers the professional courtesy discounts.
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At this point Lance's only chance is to lock his assets in a Swiss bank account and relocate to Fiji.
Interesting.
Apparently he sold the house for less than its listing price or last tax valuation.
If you read the comments in his hometown newspaper, well, lets just say he's not the favorite son.
Armstrong sells Austin home | www.statesman.com
Apparently he sold the house for less than its listing price or last tax valuation.
If you read the comments in his hometown newspaper, well, lets just say he's not the favorite son.
Armstrong sells Austin home | www.statesman.com
Armstrong took out an almost 2 million dollar credit on said house in the Fall.
Opening up the line of credit doesn't mean he actually withrew the money. I'm assuming any money he did take + interest would have to be repaid from the sale.
I thought in Texas you could 'homestead' or protect your home from bankruptcy.
The rest of the article is the same old rehash.
roopstigo | The Soul of Sports | Inside Livestrong
Opening up the line of credit doesn't mean he actually withrew the money. I'm assuming any money he did take + interest would have to be repaid from the sale.
I thought in Texas you could 'homestead' or protect your home from bankruptcy.
The rest of the article is the same old rehash.
roopstigo | The Soul of Sports | Inside Livestrong
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Very interesting. Thanks for the link.
It appears, judging by the comments, that Pharmstrong is hiding said house via a trust rather than actually offloading it.
And yes; It doesn't sound like he's well liked in his community.
It says he sold his house to an oil and gas rights guy.
It didn't say wether the guy wanted to live there, drill / frak there, or both.
I don't get it from a financial perspective. He could keep it through bankruptcy. He has (if I remember correctly) other properties he could sell if he needed cash (homes in Aspen, maybe Hawaii).
Does anyone know if you can 'extradite' civil settlements, like you can criminal sentences?
Hypothetically lets say Armstrong transfers all his cash to Costa Rico. (Well, minus what he has stashed in Switzerland). Then he moves to Costa Rico. Then SCA, USPS, etc.. Take him to court and win. Armstrong doesn't bother to show.
He loses. He gets a bill in the mail from SCA. He scribbles 'No hablo Englais' on it and sends it back.
Can he be forced to pay? Like could the Costa Rican government seize his assets?
Obviously, I picked Costa Rico kinda randomly, substitute any country people like to retire to.
It didn't say wether the guy wanted to live there, drill / frak there, or both.
I don't get it from a financial perspective. He could keep it through bankruptcy. He has (if I remember correctly) other properties he could sell if he needed cash (homes in Aspen, maybe Hawaii).
Does anyone know if you can 'extradite' civil settlements, like you can criminal sentences?
Hypothetically lets say Armstrong transfers all his cash to Costa Rico. (Well, minus what he has stashed in Switzerland). Then he moves to Costa Rico. Then SCA, USPS, etc.. Take him to court and win. Armstrong doesn't bother to show.
He loses. He gets a bill in the mail from SCA. He scribbles 'No hablo Englais' on it and sends it back.
Can he be forced to pay? Like could the Costa Rican government seize his assets?
Obviously, I picked Costa Rico kinda randomly, substitute any country people like to retire to.
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Obviously, since there is no such country. ;-) I'd lay odds on Grand Cayman, myself.
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With good offshore asset protection, no he can't be forced to pay (just like OJ). There are still a number of countries that won't cooperate with US investigations or information requests. However the number is dwindling rapidly due to some changes by the IRS which effectively ban banks from the US market if they don't cooperate. Many will no longer take US depositors because of all the headaches it entails. The other issue is fraud, which is rampant in many tax havens. Vanuatu will keep your money from the US legal reach but is very likely to keep you from ever getting it back as well.
Lance Armstrong Reportedly Buys New Home On Austin Lake In Texas (PHOTOS)
He apparently just purchased up a new $4.34 million, 12,000+ sq. ft. home in Austin. And yeah, we're sick of him and would be happy for him to f'off and live elsewhere
He apparently just purchased up a new $4.34 million, 12,000+ sq. ft. home in Austin. And yeah, we're sick of him and would be happy for him to f'off and live elsewhere
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