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Sun Feb 28, 2021, 12:01 AM

That time Mike Lindell declared a 'fake bankruptcy' to avoid a lawsuit

The $1.3 billion lawsuit filed by the voting machine company Dominion against Minnesota pillow mogul Mike Lindell Monday is not the first time he’s faced a potentially ruinous lawsuit.

By late 2003, after more than a decade owning his beloved Victoria bar called Schmitty’s Tavern, Lindell had $147,000 in debts, according to court records, and couldn’t keep up with the bar mortgage payments. Lindell sold the bar that year for $500,000, with part of the purchase financed through two promissory notes requiring the buyer to make monthly payments.

But then Lindell learned his corporation was being named as a co-defendant in a dram shop lawsuit — that’s when a bar owner is sued if a customer is over-served and then causes injury, in this case a snowmobile crash.

Lindell writes in his book “What are the Odds?” that he decided to avoid the potential damages by declaring bankruptcy — a “fake bankruptcy,” he calls it in the book. By doing so, he could protect his assets from the people suing him and embark on his next plan: Becoming a professional gambler.

Read more: https://minnesotareformer.com/2021/02/23/that-time-mike-lindell-declared-a-fake-bankruptcy-to-avoid-a-lawsuit/

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Reply That time Mike Lindell declared a 'fake bankruptcy' to avoid a lawsuit (Original post)
TexasTowelie Feb 2021 OP
MyOwnPeace Feb 2021 #1
OldBaldy1701E Feb 2021 #2
MyOwnPeace Feb 2021 #3
OldBaldy1701E Feb 2021 #4

Response to TexasTowelie (Original post)

Sun Feb 28, 2021, 06:26 AM

1. No WONDER he loves IQ45......

they're both scam artists - and probably equally hated.....

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Response to MyOwnPeace (Reply #1)

Sun Feb 28, 2021, 10:25 AM

2. Yep

That guy is definitely a chip off the old gold brick.

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Response to OldBaldy1701E (Reply #2)

Sun Feb 28, 2021, 10:45 AM

3. "a chip off the old gold brick."

Guaranteed it is Pyrite - Fools Gold!

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Response to MyOwnPeace (Reply #3)

Sun Feb 28, 2021, 05:24 PM

4. Oh yes! (n/t)

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