Post #15697 by onepoorguy on the US Policy board

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So he lied in court about how much liquid assets he has. Perjury?

Sounds like his net worth isn't much better than mine (I have no debt, but I also don't claim to have 9 figures in assets). After all, "net" is assets minus liabilities. If he's mortgaged to the hilt, as you suggest, then even if he liquidated the holdings, he'd have to pay any mortgage holder first. That might not leave much. Especially if some of those assets were inflated in value to obtain larger loans. He -conceivably- could owe more than the properties are worth, and have a negative net.

If that's the case, what then? There is no debtor's prison (fortunately). What recourse would plaintiffs have?

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