By Jim Rossignol on March 29th, 2011 at 5:18 pm.
You might recollect that back, way back, in the mists of of the mid-Naughties, former Electronic Arts founder Trip Hawkins (a legend of the industry, in no small measure) got into some trouble over tax stuff related to his time at that company. He’s attempted to make it all go away by filing personal bankruptcy, but Forbes reports that this hasn’t worked:
In a stinging 16-page opinion this week, US. District Judge Jeffrey S. White upheld an earlier bankruptcy-court ruling, saying Hawkins knew he was insolvent after the Internal Revenue Service disallowed his tax shelters but “continued to spend money extravagantly with knowledge of his tax liabilities” to the IRS and the California Franchise Tax Board. “Hawkins planned to defeat his taxes via bankruptcy and continue living the lifestyle to which he had grown accustomed,” the judge declared. Cited evidence included purchase of a $70,000 car–the fourth vehicle in a two-driver household.
Oops. [I actually only ran this story so we could use that headline again. Sorry.]