Wealth-builder James Ray Is Broke?

by The Editors on February 20, 2010

Cbe43Ecc-Ec9C-41Bd-Aee7-9Ef048208A63-SmallCarlsbadistan’s James Arthur Ray built a large motivational speaking business on the idea that with his training people could become wealthy. The tagline on his website explains it: “create harmonic wealth in all areas of your life.” That was his game. Give me money, he seemed to say, and I’ll give you the secrets of getting other people to give you money.

Now, with manslaughter charges filed against him for three sweat lodge ceremony deaths and a $5 million bail Ray is telling the court that he is actually broke, according to a story from the Associated Press.

“Despite misconceptions perpetrated in the media, Mr. Ray is not a man of significant assets and certainly not the millions reported in the press,” his attorneys wrote in documents obtained by The Associated Press from the court. The documents are now officially sealed. . . Ray himself has touted his wealth and success in numerous media interviews and on his Web site, including an estimated $10 million in revenue in 2009 and a seven-figure advance for his book, “Harmonic Wealth” that hit the New York Times Best Sellers List in May 2008. . . but the court documents paint a much different picture, showing that he is severely in debt with a net worth of negative $4.2 million

Wait, are they trying to tell us that Carlsbadistan’s self-help guru misrepresented his wealth?

[Link: The Washington Post]

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