[–] everlastingphelps 0 points 3 points 3 points (+3|-0) 1.2 years ago
This. He not only has to put up $400K that he doesn't get back, he also have to come up with another $3.6MM in collateral.
[–] DickTick 0 points 1 point 1 point (+1|-0) 1.2 years ago
No that's not how it works when you have cash.. when you have cash you can pay 10% and walk. I've personally seen it more times than I can count.
[–] Lindorinel 0 points 1 point 1 point (+1|-0) 1.2 years ago
I've done it personally, cash and collateral. Of course he might have that. But the Feds have him now.
[–] everlastingphelps 0 points 3 points 3 points (+3|-0) ago
This. He not only has to put up $400K that he doesn't get back, he also have to come up with another $3.6MM in collateral.