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.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.
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.
Read my article on Robert Kiyosaki.