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Saturday, October 13, 2012

Robert Kiyosaki, author of Rich Dad Poor Dad, files for bankruptcy

Here's another financial lesson on frauds and scams.  Right-wing pseudo-investor and scam artist Robert Kiyosaki, author of Rich Dad Poor Dad, files for bankruptcy.
Personal finance guru and author of the New York Times bestseller "Rich Dad, Poor Dad," Robert Kiyosaki, has filed for Chapter 7 bankruptcy protection for one of his companies, Rich Global LLC, after loosing a $24 million judgment to Learning Annex.

According to the New York Post, Kiyosaki's Rich Global LLC filed for Chapter 7 bankruptcy protection on August 20 after he was ordered to pay nearly $24 million to Learning Annex and its founder/chairman, Bill Zanker.

US District Judge Shira A. Scheindlin in April, ordered Rich Global LLC to pay $23,687,957.21 after a jury ruled that Zanker and his firm Learning Annex, were entitled to a percentage of the profits accruing to Rich Global LLC.

According to Forbes, Learning Annex was one of Kiyosaki's earliest backers. Kiyosaki's Rich Global LLC reportedly used the platform of Learning Annex for some high profile speaking engagements, including a 2002 appearance at Madison Square Garden and on Oprah Winfrey show.
It's only one of Kiyosaki's companies filing for bankruptcy, not Kiyosaki himself.  However, this is the inevitable path you take when you build your pseudo-wealth of fool's gold based on lies, theft, and fraud.

Read my article on Robert Kiyosaki.

1 Comments:

  • While there are things that are somewhat not relevant in this book and the book may look a out of context work with no absolute know how about investments.

    But, I learnt more about investing from this book than I did from my whole school years.

    Expect this book to be a opening gate towards your financial sustainability.

    By Anonymous Love SMS, at 11:59 AM  

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