Re:U.S. seeks 15 years for Elizabeth Holmes over Theranos fraud
by Spooky23 on Saturday November 12, 2022 @01:55PM
(#33575883)
Florida has a homestead exemption, so itβs standard practice for fallen rich people to buy a home in Florida and then reverse mortgage it or do something similar for income.
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Re:U.S. seeks 15 years for Elizabeth Holmes over Theranos fraud
by AustinDev on Saturday November 12, 2022 @02:11PM
(#33576048)
Didn't know that, some things make a lot more sense now such as Citadel's Ken Griffin buying a $120M mansion in Florida and Trump buying Maralago.
Re:U.S. seeks 15 years for Elizabeth Holmes over Theranos fraud
by bombcar on Saturday November 12, 2022 @02:15PM
(#33576085)
Florida's exemption is one of the nicest in the country:
>Florida has one of the most generous homestead exemptions found in any state. Under the Florida exemption system, homeowners may exempt an unlimited amount of value in their home or other property covered by the homestead exemption. However, the property cannot be larger than half an acre in a municipality or 160 acres elsewhere.
Texas has one similar:
>You can protect an unlimited amount of equity in your principal residence. It applies to properties on 10 acres or less in a city, town, or village or 100 acres or less in the country (families can double this to 200 acres).
If you are "high value" and potentially at risk of a lawsuit, it is worth considering relocating to a state with favorable bankruptcy laws.
Re:U.S. seeks 15 years for Elizabeth Holmes over Theranos fraud
by knaekhoved on Saturday November 12, 2022 @02:15PM
(#33576087)
I think ken's mansion in florida has more to do with the company's move from chicago to miami after people kept getting mugged in chicago.
Re:U.S. seeks 15 years for Elizabeth Holmes over Theranos fraud
by cokeandpepsi on Saturday November 12, 2022 @02:21PM
(#33576137)
that and to cover for his failures in politics