As the trustee heading up the former Real Housewives of Beverly Hills attorney’s bankruptcy case continues to comb through Thomas’s finances, it seems things aren’t looking good for anyone he allegedly owes money to.
According to court documents, which have been obtained by Radar Online, the trustee recently uncovered that the once high-powered attorney owes a whopping $101 million in liabilities, but he only has a little over $4 million in real assets. This comes after the trustee filed an amended schedule of his assets and liabilities.
The docs reportedly show that Thomas does have several bank accounts, but the funds in the accounts are very minimal.
As fans well know, Erika is currently being sued by the bankruptcy trustee for the return of the $25 million Thomas allegedly transferred to EJ Global, and that amount is also listed as an asset in the docs. However, since Erika has seemingly refused to return a dime thus far, the officials aren’t quite sure how much of the $25 million they’ll ultimately be able to recover.
Nevertheless, the trustee did note that Thomas’s assets could potentially increase as they continue to investigate the now-disbarred attorney’s financial situation.
According to the docs, Thomas’s Girardi Keese firm owes $11.7 million to his former client, Joseph Ruigomez, another $11 million to a company called Virage SPV 1, and $4.2 million to Nano Bank. There are also many other creditors listed, including credit card companies and AT&T. As a result, the grand total Thomas reportedly owes is $101,007,652, but the trustee claims this is still a rough estimate.
This comes after the trustee’s initial review of Thomas’s assets, where the official originally believed he had close to $74 million in assets with $56 million in liabilities, which is obviously a huge difference. However, the court-appointed official filed the amended schedule after finally gaining access to the Girardi Keese books.
Apparently, the books were not “well-maintained” as the trustee says they were “piled high on each and every flat surface and in no discernible order.” However, the official was able to review them “with the assistance of the Debtor’s accounting programs,” but the trustee claims the programs were also “unreliable.”
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