Kevin Trudeau – Hiding his assets from the feds?

I’ve been noticing an uptick in search results on this site for Kevin Trudeau, today’s most infamous snake oil salesman. The last news we had was a few weeks ago about his declaration of bankruptcy. But why the sudden interest? Not sure but this may have had something to do with it.

He’s trying to keep ahead of US violations. Allegations have arisen that Trudeau and his lawyer are “engaged in a rather elaborate scheme to try to put [Trudeau's] assets beyond the reach of the FTC”.

Kevin Trudeau: Chasing the Dream Seller – ABC News.

The controversial TV infomercial pitchman Kevin Trudeau is facing possible incarceration for his failure to pay a $37.6 million court-ordered sanction entered against him three years ago over misleading television ads for his weight-loss book.

Trudeau, an ex-felon who built an infomercial empire in the 1990s and went on to become a best-selling author, says he has no assets and cannot pay.

“I don’t have $37 million hidden someplace,” Trudeau tells Bill Weir in tonight’s premiere episode of ABC’s “The Lookout.” “If they can find $37 million, pop the Champagne. Good luck.”

Yet the Federal Trade Commission – the consumer watchdog agency that has tangled with Trudeau frequently over the past two decades – argues that he simply cannot be trusted to give a full accounting of his assets. The FTC is seeking to have a judge hold Trudeau in contempt for his failure to pay the penalty, and argues that Trudeau should be jailed until he does.

The investigation by ABC News’ The Lookout finds Trudeau living well, “burning through cash” (suspected by the Federal Trade Commission), instead of paying what he owes. His attorney says Trudeau is working as “New York Times best-selling author and motivational speaker”. Who would hire him? What company would want a speaker who has been in trouble with the law repeatedly for misleading claims? I’m skeptical. And, I don’t trust KT as far as I can throw his fancy-suited, egotistical hunk of flesh. He continues by whining that the judgements against him aren’t fair. Meanwhile the FTC is alleging that he is busy hiding his assets so they can’t be touched.

Then comes the worst part, the many who still praise KT and see him as “brave” and under unreasonable scrutiny by the government.

Tip: David Wood