ballchain said:
HoustonAg15 said:
I saw his brother estimated his real estate deals netted him 2,000,000 (brother was partner, he would know), yet he talks about the how rich his brother made him and his mom like it's a much higher number. He also talks about his brother being a high roller.. I'm sorry but an IRS auditor, mail carrier, and Lockheed internal auditor + 2,000,000 simply doesn't sound sufficient when he owns planes, gambles a reported 5 figures a day, and has like 4 houses. That's where I'm still stuck in all this. Where is the money coming from? Could be an innocent source, but I don't buy the current set of facts.
1. The aircraft are a $15-$25k C152 and a $70-$100k Bellanca Viking. You don't have to be a millionaire to own either, or both. Not sure of the full ownership history.
2. $10k a day in action really isn't much, and definitely not a "whale." You win some, and you lose some.
3. I'm not sure of the exact timeline of real estate holdings, but if it was prior to 2009 when he got in, when we were ramping up for the housing meltdown, then leveraging to snag up real estate wasn't too out of the ordinary. Lots of $$$ being made at the time in real estate.
A lot still stinks about it, but we'll have to wait and see what details come out that better portray who this dude was and why he is such a piece of *****
If you are worth millions ($3+ million) and know you are going to die in a month or two, why wouldn't you liquidate your hard assets and gamble a helluva lot more than $10,000 a day? That's only $300,000 for a month. You've got 10x that much money. Then transfers $100,000 to the Philippines? As if that's a lot of money for someone with $3+ million. Makes no sense.
Doesn't add up. I'd bet he wasn't nearly as rich as his lying brother says. Probably was leveraged up to his ass and net worth was a lot less than 'multi millions'.
Besides all that, very very few gamblers win consistently except poker players (not video poker) and sports bettors. All the games are rigged against you. Math and long term odds aren't fooled by the occasional win. Over time, all gamblers lose.