Happy B-Day, Lenny Dykstra!
At the Fool, we've poked a lot of fun at Lenny Dykstra. Most know him for his career on the baseball field. More recently, he created a reputation as an overconfident businessman looking for handouts from just about everyone, including his family. There are probably some people who would argue that he was a passionate, smart businessman..but it's virtually impossible to think that after reading ESPN's article on Lenny Dykstra from April. One thing is certain, Lenny never stopped cooking up get-rich-quick schemes.
The former advisor for an options service at TheStreet.com used to brag about the boatloads of money that he made for his newsletter subscribers. Not to mention, he always had a multi-million dollar deal (or scandal to some, given the 20 lawsuits against him) in the works.
We were all wondering just when the the Dykstra non-stop cash party would come to an end. Well.. according to ESPN, his B-Day has come. Lenny Dykstra just filed for Chapter 11 bankruptcy protection with less than $50,000 in assets and somewhere between $10-$50 million in liabilities. It doesn't take an investor to know that's one off-balance balance sheet.
Leave us a comment with other crazy bankruptcy stories.