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Thursday, January 16, 2014

ANOTHER DAY IN BUCKHANNON BANKRUPTCY HISTORY: Robert Buckhannon Claims $5,000 Monthly Income From Ethanol Company That Never Built A Processing Plant Or Sold A Drop!

Publicly available documents are a real treasure trove, even when you have to pay for them through pacer.gov!

Your girl Miss Fortune has spent some time with Robert Buckhannon's filings, and my efforts have turned up quite a few verrrry interesting tidbits!

No, not the $37 million 2011 bankruptcy that was just discharged about a month ago. And not the 2000 bankruptcy he filed in Tampa.

I'm talking about the Chapter 13 bankruptcy Buckhannon filed in Colorado on October 24, 2006. And although it was ultimately dismissed (official records indicate that Buckhannon never made any of his 60 required $2,170 monthly payments), a review of the income information provided is quite interesting.

Buckhannon's Morrison, CO home

Living at the time in an $800,000 home mortgaged to the hilt, Buckhannon estimated his income during the look-back period as follows:

48,450.00 2006 YTD from mortgage brokering and managing car wash

37,600.00 2005 - Mortgage Loan Business

42,540.00 2004- Medical consulting; Mortgage brokering

In addition, Buckhannon revealed that he had received a $100,000 insurance payout in June 2005, proceeds of his ex-wife Tanya's life insurance. Tanya Buckhannon Heller died in Florida, and her 19 page will was filed on April 21, 2005 in Sarasota County.

Buckhannon claimed assets of $886,315 and liabilities totaling $1,134, 973.97.

Included in that tally were significant amounts owed to the IRS, a six-figure student loan debt, three deficiencies "from repo" and attorney fees.

Buckhannon estimated his monthly income at the time at $10,731.00.

Included in that figure was "approximately $5,000 monthly from Silver State Ethanol", $3,000 from "mortgage brokering" and another "$2,000 a month managing the Lakewood Car Wash".

A check of Colorado's official database shows no evidence Buckhannon was ever licensed as a "mortgage broker", and there appears to be no record of him ever having held a realtor's license in the state.

In addition, Silver State Ethanol, Inc. is a company that was ostensibly formed in Nevada to build an ethanol plant in Burley, ID.  Buckhannon is not listed in any of the corporation's Nevada filings and, although I dug like a honey badger, I found nothing officially linking Buckhannon to the company.

The Idaho plant was never built, and neither was another one pitched by Las Vegas attorney and Buckhannon crony C. Dean Homayouni to the economic development team in Ashland, Ohio.

Money for nothing? Maybe.

Wonder if he gets his chicks for free?

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